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11 Mar 2014
AUD/USD climbs to 0.9040
FXStreet (Edinburgh) - The Aussie dollar is now climbing to session highs, lifting the AUD/USD to the 0.9035/40 region on Tuesday.
AUD/USD apathetic after data
A bit of news in the domestic docket showed a softer NAB Business Conditions and Business Confidence for the month of February at 0 and 7 vs. January’s 4 and 8, respectively, although spot posted practically no reaction. In the opinion of Emmanuel Ng, Strategist at OCBC Bank, “, the AUD-USD was capped further following a disappointing read from the NAB and expect the pair to remain moribund under the cloud of an unsteady commodity dynamic. Expect key psychological support to materialize around the 0.9000 zone, although a breach may invite further decay towards 0.8940”.
AUD/USD key levels
The pair is now up 0.20% at 0.9040 with the next resistance at 0.9064 (high Mar.19) followed by 0.9135 (high Mar.7) and then 0.9152 (high Dec.11). On the flip side, a breakdown of 0.9012 (low Mar.10) would open the door to 0.8973 (low Mar.6) and finally 0.8934 (low Mar.5).
AUD/USD apathetic after data
A bit of news in the domestic docket showed a softer NAB Business Conditions and Business Confidence for the month of February at 0 and 7 vs. January’s 4 and 8, respectively, although spot posted practically no reaction. In the opinion of Emmanuel Ng, Strategist at OCBC Bank, “, the AUD-USD was capped further following a disappointing read from the NAB and expect the pair to remain moribund under the cloud of an unsteady commodity dynamic. Expect key psychological support to materialize around the 0.9000 zone, although a breach may invite further decay towards 0.8940”.
AUD/USD key levels
The pair is now up 0.20% at 0.9040 with the next resistance at 0.9064 (high Mar.19) followed by 0.9135 (high Mar.7) and then 0.9152 (high Dec.11). On the flip side, a breakdown of 0.9012 (low Mar.10) would open the door to 0.8973 (low Mar.6) and finally 0.8934 (low Mar.5).