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23 May 2014
AUD/USD escapes from Asian lows of 0.9215
FXStreet (Moscow) - AUD/USD is trading with the upside bias after plunging to current Asian low at 0.9215 at the start of the session.
China may help the Aussie
The recent Chinese HSBC PMI reading came out above expectations on Thursday nearing the key 50-point waterline at 49.7 The positive developments from China may be the evidence the economy has bottomed, and has started the rebound. If so, it may give the Aussie the needed support to resume the rise from strong support level around 0.92 area. The absence of any significant data may leave the pair in narrow ranges with support level at 0.9216 followed by 0.9200, and resistance coming at 0.9280.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9237, with support below at 0.9197, 0.9173 and 0.9133, with resistance above at 0.9261, 0.9301 and 0.9325. Hourly Moving Averages are mixed, with the 200SMA at 0.9362 and the daily 20EMA at 0.9306. Hourly RSI is bullish at 55.
China may help the Aussie
The recent Chinese HSBC PMI reading came out above expectations on Thursday nearing the key 50-point waterline at 49.7 The positive developments from China may be the evidence the economy has bottomed, and has started the rebound. If so, it may give the Aussie the needed support to resume the rise from strong support level around 0.92 area. The absence of any significant data may leave the pair in narrow ranges with support level at 0.9216 followed by 0.9200, and resistance coming at 0.9280.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9237, with support below at 0.9197, 0.9173 and 0.9133, with resistance above at 0.9261, 0.9301 and 0.9325. Hourly Moving Averages are mixed, with the 200SMA at 0.9362 and the daily 20EMA at 0.9306. Hourly RSI is bullish at 55.