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19 Mar 2014
AUD/USD capped near 0.9140
FXStreet (Edinburgh) - The Aussie dollar was rejected in the vicinity of 0.9140 overnight, sparking a correction lower in the AUD/USD to the current 0.9120/15 region.
AUD/USD consolidates recent upside
The pair quickly left behind the 0.9100 handle on Tuesday, although it lacked conviction to follow through the key resistance at 0.9135, deflating to current levels. In the data front, the Westpac Leading index dropped 0.1% in February, although improving from the previous 0.2% drop. The higher fixing in USD/CNY and USD/CNH also hampered the bullish momentum in the AUD. “The RBA meeting minutes on Tuesday strengthened the perception of a neutral stance but the pair may pause for breath ahead of the FOMC later today and with the 200-day MA (0.9147) sitting above. Barring another flare up of China pressures, 0.9100 may also offer near term support”.
AUD/USD key levels
The pair is now losing 0.11% at 0.9116 with the immediate support at 0.9000 (psychological level) ahead of 0.8930 (50-d MA) and then 0.8923 (low Mar.12). On the flip side, the initial hurdle aligns at 0.9138 (high Mar.19) ahead of 0.9152 (high Dec.11) and then 0.9155 (200-d MA).
AUD/USD consolidates recent upside
The pair quickly left behind the 0.9100 handle on Tuesday, although it lacked conviction to follow through the key resistance at 0.9135, deflating to current levels. In the data front, the Westpac Leading index dropped 0.1% in February, although improving from the previous 0.2% drop. The higher fixing in USD/CNY and USD/CNH also hampered the bullish momentum in the AUD. “The RBA meeting minutes on Tuesday strengthened the perception of a neutral stance but the pair may pause for breath ahead of the FOMC later today and with the 200-day MA (0.9147) sitting above. Barring another flare up of China pressures, 0.9100 may also offer near term support”.
AUD/USD key levels
The pair is now losing 0.11% at 0.9116 with the immediate support at 0.9000 (psychological level) ahead of 0.8930 (50-d MA) and then 0.8923 (low Mar.12). On the flip side, the initial hurdle aligns at 0.9138 (high Mar.19) ahead of 0.9152 (high Dec.11) and then 0.9155 (200-d MA).