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10 Jun 2014
AUD/USD building bids
FXStreet (Guatemala) - AUD/USD is trading at 0.9353, down -0.03% on the day, having posted a daily high at 0.9357 and low at 0.9348.
AUD/USD is up from the lows and building support from the bulls. RBS strategists explained the targeted easing in China and the improvement in China's trade surplus is likely most impactful for the AUD in the G10, which has a busy week of data releases itself. “April home loans and investment data are released ahead of May employment figures on June 11th (June 12th locally). Pro-cyclical easing in Europe paired with targeted easing in China both play positively for carry currencies and the AUD in our view”. Ivan Delgado, chief of Head of Asian Editors noted, from the H4 Chart and intraday, “The bullish momentum in the AUD becomes more evident, as price holds above the tenkan, while both the kijun and the cloud remain far behind, a communication that AUD enters Tuesday's Asian session keeping a very healthy bullish tone”.
AUD/USD Levels
With spot trading at 0.9353, we can see next resistance ahead at 0.9356 (Daily Open), 0.9356 (Weekly High), 0.9357 (Daily Classic R1), 0.9357 (Daily High) and 0.9366 (Yesterday's High). Support below can be found at 0.9349 (Hourly 20 EMA), 0.9348 (Daily Low), 0.9337 (Daily Classic PP), 0.9334 (Yesterday's Low) and 0.9315 (Daily Classic S1).
AUD/USD is up from the lows and building support from the bulls. RBS strategists explained the targeted easing in China and the improvement in China's trade surplus is likely most impactful for the AUD in the G10, which has a busy week of data releases itself. “April home loans and investment data are released ahead of May employment figures on June 11th (June 12th locally). Pro-cyclical easing in Europe paired with targeted easing in China both play positively for carry currencies and the AUD in our view”. Ivan Delgado, chief of Head of Asian Editors noted, from the H4 Chart and intraday, “The bullish momentum in the AUD becomes more evident, as price holds above the tenkan, while both the kijun and the cloud remain far behind, a communication that AUD enters Tuesday's Asian session keeping a very healthy bullish tone”.
AUD/USD Levels
With spot trading at 0.9353, we can see next resistance ahead at 0.9356 (Daily Open), 0.9356 (Weekly High), 0.9357 (Daily Classic R1), 0.9357 (Daily High) and 0.9366 (Yesterday's High). Support below can be found at 0.9349 (Hourly 20 EMA), 0.9348 (Daily Low), 0.9337 (Daily Classic PP), 0.9334 (Yesterday's Low) and 0.9315 (Daily Classic S1).