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20 Feb 2014
AUD/USD reversing the reverse
FXStreet (Guatemala) - AUD/USD’s fall out on the Chinese PMI disappointment had no follow through overnight and the pair had managed a pull back towards the 0.9000 post hitting a weekly low through 0.8940. A series of US data has taken the attention of traders, which came mostly in line except for the up side surprise in the Markit Manufacturing PMI that currently see’s the pair offered through 0.8960.
A surprisingly robust Markit Manufacturing PMI for Feb read 56.7 vs 53.0 and 53.7 previous. Danske bank technical analysts sight this data as important data, “It is our first indication of the strength of the manufacturing sector on a nationwide scale and it does not really get the attention it deserves in the market”. Earlier, the US CPI grew 0.1% in January and 1.6% YoY meeting market consensus and initial jobless claims dropped 3K last week to 336K versus 335K expected. Next up, consumer confidence and Philly Fed.
AUD/USD Levels
The 20 DMA is 0.8892, the 50 DMA is 0.8901 and the 200 DMA is 0.9209. RSI (14) reads 41.38. Supports are ascending from 0.8821, 0.8873, 0.8907 and 0.8920. Spot is 0.8960 while resistances are 0.9012, 0.9044, 0.9087 and 0.9125.
A surprisingly robust Markit Manufacturing PMI for Feb read 56.7 vs 53.0 and 53.7 previous. Danske bank technical analysts sight this data as important data, “It is our first indication of the strength of the manufacturing sector on a nationwide scale and it does not really get the attention it deserves in the market”. Earlier, the US CPI grew 0.1% in January and 1.6% YoY meeting market consensus and initial jobless claims dropped 3K last week to 336K versus 335K expected. Next up, consumer confidence and Philly Fed.
AUD/USD Levels
The 20 DMA is 0.8892, the 50 DMA is 0.8901 and the 200 DMA is 0.9209. RSI (14) reads 41.38. Supports are ascending from 0.8821, 0.8873, 0.8907 and 0.8920. Spot is 0.8960 while resistances are 0.9012, 0.9044, 0.9087 and 0.9125.