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11 Jun 2014
AUD/USD bulls set their eyes at 0.9400 resistance
FXStreet (Moscow) - AUD/USD is trying to settle above 0.9380 resistance after opening at 0.9369
Waiting for labour market data
Aussie has been on the ride for the second day in a row. Great start of the week, but it is always a bad idea to jump to the conclusions especially when employment report is at the fore. The report is published on Thursday thus today we are expecting some kind of positioning ahead of the key event. According to the forecast the pace of employment growth will continue to slow down in May, while the unemployment rate might even inch higher. These rather gloomy expectations might prevent short-term Aussie traders from opening new longs, more over, some existing position might be squared by some cautious players. In this case AUD/USD could retrace to the nearest bearish target at 0.9360, followed by 0.9340. The upside is likely to be limited by 0.9400.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9366, with support below at 0.9346, 0.9320 and 0.9300, with resistance above at 0.9392, 0.9414 and 0.9448. Hourly Moving Averages are mostly bullish with the 200SMA at 0.9306 and the daily 20EMA at 0.9292. Hourly RSI is bullish at 57.
Waiting for labour market data
Aussie has been on the ride for the second day in a row. Great start of the week, but it is always a bad idea to jump to the conclusions especially when employment report is at the fore. The report is published on Thursday thus today we are expecting some kind of positioning ahead of the key event. According to the forecast the pace of employment growth will continue to slow down in May, while the unemployment rate might even inch higher. These rather gloomy expectations might prevent short-term Aussie traders from opening new longs, more over, some existing position might be squared by some cautious players. In this case AUD/USD could retrace to the nearest bearish target at 0.9360, followed by 0.9340. The upside is likely to be limited by 0.9400.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9366, with support below at 0.9346, 0.9320 and 0.9300, with resistance above at 0.9392, 0.9414 and 0.9448. Hourly Moving Averages are mostly bullish with the 200SMA at 0.9306 and the daily 20EMA at 0.9292. Hourly RSI is bullish at 57.