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20 Sep 2013
AUD/USD sliding below pivot; just a consolidation above 94.00?
FXstreet.com (London) - AUD/USD has lost its form in the dollars consolidation of losses and finds lows below the 94.00 handle.
AUDUSD has printed a low of 0.9377 and has lost all of its gains in the same week as we come to a close for this week’s session. The pair has been subdued by EUR/AUD demand in European markets as the cross inched higher and markets are also looking towards shorting AUD/NZD as a favoured play which is weighing on the Aussie as well. The pair needs to hold onto the 94.00 handle if it is still to become a convincing long play. Otherwise, caution would set in on failures around here as the market keeps a close eye on data that would be influencing plans on timings for US tapering.
AUD/USD Levels
The 20 DMA is .9188, the 50 DMA is .9142 and the 200 DMA is .9864. RSI (14) reads 30.69. Supports are ascending from .9271 .9285 and .9330. Spot is currently .9396 while resistances are at .9439, .9503, .9530, .9574 and .9581.
AUDUSD has printed a low of 0.9377 and has lost all of its gains in the same week as we come to a close for this week’s session. The pair has been subdued by EUR/AUD demand in European markets as the cross inched higher and markets are also looking towards shorting AUD/NZD as a favoured play which is weighing on the Aussie as well. The pair needs to hold onto the 94.00 handle if it is still to become a convincing long play. Otherwise, caution would set in on failures around here as the market keeps a close eye on data that would be influencing plans on timings for US tapering.
AUD/USD Levels
The 20 DMA is .9188, the 50 DMA is .9142 and the 200 DMA is .9864. RSI (14) reads 30.69. Supports are ascending from .9271 .9285 and .9330. Spot is currently .9396 while resistances are at .9439, .9503, .9530, .9574 and .9581.