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18 Mar 2014
AUD/USD in lows around 0.9070
FXStreet (Edinburgh) - The Aussie dollar is now quickly depreciating vs. the greenback, dragging the AUD/USD to fresh intraday lows in sub-0.9070 levels.
AUD/USD retreats from 0.9110
The pair spiked to the vicinity of 0.9110 on certain hawkish aspects from today’s RBA minutes. However, the bull attempt was short-lived as the central bank reiterated that current low rates would remain for longer while the AUD remain high by historical standards. In light of today’s release, Strategist Emmanuel Ng at OCBC Bank commented, “This morning, the RBA meeting minutes failed to excite the AUD on a sustained basis although better looking investor sentiment should put a bid under near term dips. At this juncture, key resistance is expected around the 200-day MA (0.9149) while support is expected towards the 100-day MA (0.9035) and then at 0.9000”.
AUD/USD levels to watch
The pair is now losing 0.20% at 0.9070 a breach of 0.8930 (50-d MA) would expose 0.8923 (low Mar.12) and finally 0.8909 (low Mar.4). On the flip side, the initial hurdle aligns at 0.9135 (high Mar.7) ahead of 0.9152 (high Dec.11) and then 0.9155 (200-d MA).
AUD/USD retreats from 0.9110
The pair spiked to the vicinity of 0.9110 on certain hawkish aspects from today’s RBA minutes. However, the bull attempt was short-lived as the central bank reiterated that current low rates would remain for longer while the AUD remain high by historical standards. In light of today’s release, Strategist Emmanuel Ng at OCBC Bank commented, “This morning, the RBA meeting minutes failed to excite the AUD on a sustained basis although better looking investor sentiment should put a bid under near term dips. At this juncture, key resistance is expected around the 200-day MA (0.9149) while support is expected towards the 100-day MA (0.9035) and then at 0.9000”.
AUD/USD levels to watch
The pair is now losing 0.20% at 0.9070 a breach of 0.8930 (50-d MA) would expose 0.8923 (low Mar.12) and finally 0.8909 (low Mar.4). On the flip side, the initial hurdle aligns at 0.9135 (high Mar.7) ahead of 0.9152 (high Dec.11) and then 0.9155 (200-d MA).