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22 May 2014
AUD/USD shoots 42 pips higher
FXStreet (Guatemala) - Currently, AUD/USD is trading at 0.9251, down 0.00% on the day, having posted a daily high at 0.9264 and low at 0.9219.
A series of recent data releases have supported the AUD/USD. First off, we got the Consumer Inflation Expectations in at 4.4% vs 4.2% previous prepping the pair up for the Chinese numbers in the HSBC Manufacturing PMI's that had been widely expected at just 48.1, but instead actually put in a massive 49.7 figure that took the pair 42 pips higher on the knee jerk. AUD is settling down a little after the release here while RBS analysts explained that the Chinese PMI data today would have been important, but said the market is more neutral on the Chinese outlook as recent announcements point to easier monetary conditions. “We would be inclines to sell strength, but at this stage until nearer 0.9320”.
AUD/USD Levels
With spot trading at 0.9252, we can see next resistance ahead at 0.9255 (Yesterday's High), 0.9264 (Daily High), 0.9269 (Daily Classic R1),
0.9281 (Weekly Classic S2) and 0.9286 (Daily Classic R2). Support below can be found at 0.9251 (Daily Open), 0.9243 (Monthly Low), 0.9243 (Weekly Low), 0.9238 (Daily Classic PP) and 0.9236 (Weekly Classic S3).
AUD/USD chart formations
Looking to candlestick patterns, we can see a Doji formation on the 4-hour chart.
A series of recent data releases have supported the AUD/USD. First off, we got the Consumer Inflation Expectations in at 4.4% vs 4.2% previous prepping the pair up for the Chinese numbers in the HSBC Manufacturing PMI's that had been widely expected at just 48.1, but instead actually put in a massive 49.7 figure that took the pair 42 pips higher on the knee jerk. AUD is settling down a little after the release here while RBS analysts explained that the Chinese PMI data today would have been important, but said the market is more neutral on the Chinese outlook as recent announcements point to easier monetary conditions. “We would be inclines to sell strength, but at this stage until nearer 0.9320”.
AUD/USD Levels
With spot trading at 0.9252, we can see next resistance ahead at 0.9255 (Yesterday's High), 0.9264 (Daily High), 0.9269 (Daily Classic R1),
0.9281 (Weekly Classic S2) and 0.9286 (Daily Classic R2). Support below can be found at 0.9251 (Daily Open), 0.9243 (Monthly Low), 0.9243 (Weekly Low), 0.9238 (Daily Classic PP) and 0.9236 (Weekly Classic S3).
AUD/USD chart formations
Looking to candlestick patterns, we can see a Doji formation on the 4-hour chart.