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1 Aug 2014
AUD/USD steady on 0.93 handle
FXStreet (Guatemala) - The NBS Manufacturing PMI from China came in at 51.7 vs 51.4 and the AUD/USD was moving up ahead of the number but dropped back towards 0.93 the figure on the release and we stand at 0.9306 currently.
It appears markets are holding out for the Nonfarm Payrolls data in the US with majors stuck in tight ranges and consolidating the recent volatility and strength in the greenback. Meanwhile, we are reminded by Valeria Bednarik, chief analyst at FXStreet explains that the pair comes with a short-term bearish tone, having been unable to establish back above the 0.9300 level and with the hourly chart showing a clear bearish tone.
AUD/USD 4 hour bearish picture
“In the 4 hours chart, indicators are losing their downward potential in oversold levels, but the overall picture is still weak: a break below 0.9260 strong static midterm support, can see the pair extending its decline below the 0.9200 figure before the week is over”. Bednarik sights that the Support levels and 0.9260 0.9220 0.9175 and resistance levels are 0.9330 and 0.9370.
It appears markets are holding out for the Nonfarm Payrolls data in the US with majors stuck in tight ranges and consolidating the recent volatility and strength in the greenback. Meanwhile, we are reminded by Valeria Bednarik, chief analyst at FXStreet explains that the pair comes with a short-term bearish tone, having been unable to establish back above the 0.9300 level and with the hourly chart showing a clear bearish tone.
AUD/USD 4 hour bearish picture
“In the 4 hours chart, indicators are losing their downward potential in oversold levels, but the overall picture is still weak: a break below 0.9260 strong static midterm support, can see the pair extending its decline below the 0.9200 figure before the week is over”. Bednarik sights that the Support levels and 0.9260 0.9220 0.9175 and resistance levels are 0.9330 and 0.9370.