Back
13 Aug 2014
AUD/USD takes pains to clear 0.9280 resistance
FXStreet (Moscow) - AUD/USD took off from the Asian low of 0.9262 and moved to the interim resistance of 0.9280 after positive consumer confidence report from Australia, but bullish momentum is waning.
US data in focus
Aussie bulls did their best to drive the currency higher on the back of positive Westpac consumer sentiments index that exceeded expectations, though the bullish momentum proved to be too weak to get the pair above 0.9280 resistance. Now that the key Asian events are behind us, the market focus will shift onto US retail sales numbers published during American hours. They are expected to be largely the same as in June (0.2% m/m and 0.4% m/m ex-Auto). Nothing to crow about, though if the report comes out stronger than expected, USD might get support across the board. In this case AUD/USD might dip to the initial support of 0.9240 followed by area of strong corporate demand, stops and option barriers at 0.9220. The immediate upside is still limited by bespoke resistance of 0.9300.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9265, with support below at 0.9251, 0.9233 and 0.9219, with resistance above at 0.9283, 0.9297 and 0.9315. Hourly Moving Averages are bearish with the 200SMA bearish at 0.9293 and the daily 20EMA bearish at 0.9332. Hourly RSI is bullish at 60.
US data in focus
Aussie bulls did their best to drive the currency higher on the back of positive Westpac consumer sentiments index that exceeded expectations, though the bullish momentum proved to be too weak to get the pair above 0.9280 resistance. Now that the key Asian events are behind us, the market focus will shift onto US retail sales numbers published during American hours. They are expected to be largely the same as in June (0.2% m/m and 0.4% m/m ex-Auto). Nothing to crow about, though if the report comes out stronger than expected, USD might get support across the board. In this case AUD/USD might dip to the initial support of 0.9240 followed by area of strong corporate demand, stops and option barriers at 0.9220. The immediate upside is still limited by bespoke resistance of 0.9300.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9265, with support below at 0.9251, 0.9233 and 0.9219, with resistance above at 0.9283, 0.9297 and 0.9315. Hourly Moving Averages are bearish with the 200SMA bearish at 0.9293 and the daily 20EMA bearish at 0.9332. Hourly RSI is bullish at 60.