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8 Jul 2013
AUD/USD retreats from highs
FXstreet.com (Edinburgh) - Another failed attempt to follow through 0.9070 leaves the AUD/USD trading back around 0.9060 on Monday, recovering from session lows in the vicinity of 0.9040.
AUD/USD holds around multi-year lows
“The USD rally accounts for a large part of the AUD decline, but concerns regarding domestic and China’s economic growth also led to a broader underperformance. Our model of AUD/USD shows the sell-off has been warranted. The shadow rates model shows a present fair value of 0.9032, while the standard model shows 0.8965”, suggested the research team at NAB. In the domestic data front, the ANZ Job Advertisements contracted 1.8% in June, bettering the previous 2.5% contraction.
AUD/USD levels to watch
At the moment the pair is up 0.04% at 0.9057 with the next resistance at 0.9076 (hourly highs Jul.5) ahead of 0.9187 (MA10d) and finally 0.9190 (high Jul.3). On the downside, a break below 0.9036 (low Jul.3) would expose 0.9032 (high Aug.30 2010) and then 0.8957 (high Aug.31 2010).
AUD/USD holds around multi-year lows
“The USD rally accounts for a large part of the AUD decline, but concerns regarding domestic and China’s economic growth also led to a broader underperformance. Our model of AUD/USD shows the sell-off has been warranted. The shadow rates model shows a present fair value of 0.9032, while the standard model shows 0.8965”, suggested the research team at NAB. In the domestic data front, the ANZ Job Advertisements contracted 1.8% in June, bettering the previous 2.5% contraction.
AUD/USD levels to watch
At the moment the pair is up 0.04% at 0.9057 with the next resistance at 0.9076 (hourly highs Jul.5) ahead of 0.9187 (MA10d) and finally 0.9190 (high Jul.3). On the downside, a break below 0.9036 (low Jul.3) would expose 0.9032 (high Aug.30 2010) and then 0.8957 (high Aug.31 2010).