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11 Feb 2014
AUD/USD meeting supply at 0.8950
FXStreet (Guatemala) - AUD/USD has been grinding higher at the start of this week and meets supply at 0.8950.
There is little ahead for the pair today but Strategists at TD Securities explained that the main game is employment. “We are top of the mkt at +40k (mkt +15k) and with an unchanged participation rate of 64.6% lowers the unemployment rate to 5.7% (mkt 5.9%, last 5.8%)”. Until, the pair may be trading to a tight range with a bias to the topside so far. The next main game on the cards this week is Yellen. Strategist at RBS noted that this week sees new Fed Chair Yellen update markets on the outlook for monetary policy during her Semi Annual testimony. “We expect her to embed the Fed's dovish policy stance.”
AUD/USD Levels
The 20 DMA is 0.8838, the 50 DMA is 0.8914 and the 200 DMA is 0.9251. RSI (14) reads 53.55. Supports are ascending from 0.8821, 0.8873, 0.8896, 0.8923. Spot is 0.8949 while resistances are 0.9009, 0.9045, 0.9087 and 0.9125.
There is little ahead for the pair today but Strategists at TD Securities explained that the main game is employment. “We are top of the mkt at +40k (mkt +15k) and with an unchanged participation rate of 64.6% lowers the unemployment rate to 5.7% (mkt 5.9%, last 5.8%)”. Until, the pair may be trading to a tight range with a bias to the topside so far. The next main game on the cards this week is Yellen. Strategist at RBS noted that this week sees new Fed Chair Yellen update markets on the outlook for monetary policy during her Semi Annual testimony. “We expect her to embed the Fed's dovish policy stance.”
AUD/USD Levels
The 20 DMA is 0.8838, the 50 DMA is 0.8914 and the 200 DMA is 0.9251. RSI (14) reads 53.55. Supports are ascending from 0.8821, 0.8873, 0.8896, 0.8923. Spot is 0.8949 while resistances are 0.9009, 0.9045, 0.9087 and 0.9125.