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20 Dec 2013
AUD/USD capped overnight
FXstreet.com (Barcelona) - AUD/USD ranged overnight, climbing from an opening low at 0.8856 to post a high at 0.8887, before declining to where spot is presently trading at 0.8865
AUD/USD range bound but gently climbing
Following the RBA’s Steven’s recent comments regarding a weaker AU$, the pair has remained under pressure. Overnight, price gently edged higher, quietly big on local corporate demand. Peter Fell of FXBeat comments that “AUD/USD pushing higher on exporter demand, bids at 8830/40 have been pulled and corporates paying up ahead on the weekend.” The week ended with an empty Australian calendar, and spot was unreactive to the BoJ rate decision and policy statement. Ahead we can look to US GDP at 13:30 GMT, and Yellen’s confirmation as new Fed Chair.
What are today’s key AUD/USD levels?
Hourly RSI sits at 49 and neutral, with ADX at 14. The hourly 200 SMA sits at 0.8970 and sloping lower, alongside the 20D EMA at 0.9052. The daily pivot point is at 0.8852, providing next support before 0.8828 (S1). Resistance above can be seen at 0.8883 (R1). Further resistance can be see at 0.8875, the Dec 19 high, 0.8900 where leveraged funds are reported to be selling rallies, 0.8945, the Dec 18 high, and 0.8858, the Dec 17 high. Support below can be seen at 0.8823, the Dec 19 low, 0.8820, the Dec 18 low, 0.8820-10 where Corporate bids are positioned with stops below 0.8800 before 0.8870, the 2010 Aug 25 daily low.
AUD/USD range bound but gently climbing
Following the RBA’s Steven’s recent comments regarding a weaker AU$, the pair has remained under pressure. Overnight, price gently edged higher, quietly big on local corporate demand. Peter Fell of FXBeat comments that “AUD/USD pushing higher on exporter demand, bids at 8830/40 have been pulled and corporates paying up ahead on the weekend.” The week ended with an empty Australian calendar, and spot was unreactive to the BoJ rate decision and policy statement. Ahead we can look to US GDP at 13:30 GMT, and Yellen’s confirmation as new Fed Chair.
What are today’s key AUD/USD levels?
Hourly RSI sits at 49 and neutral, with ADX at 14. The hourly 200 SMA sits at 0.8970 and sloping lower, alongside the 20D EMA at 0.9052. The daily pivot point is at 0.8852, providing next support before 0.8828 (S1). Resistance above can be seen at 0.8883 (R1). Further resistance can be see at 0.8875, the Dec 19 high, 0.8900 where leveraged funds are reported to be selling rallies, 0.8945, the Dec 18 high, and 0.8858, the Dec 17 high. Support below can be seen at 0.8823, the Dec 19 low, 0.8820, the Dec 18 low, 0.8820-10 where Corporate bids are positioned with stops below 0.8800 before 0.8870, the 2010 Aug 25 daily low.