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6 Mar 2014
AUD/USD high marked 0.9095
FXStreet (Guatemala) - AUD/USD is continuing on the bid after it strengthened overnight following the release of the stronger than expected Australian retail sales.
Retail sales expanded robustly by 1.2%M/M in January providing further evidence that loose RBA monetary policy is helping to stimulate demand. The RBA’s monthly meeting was on Tuesday. There were no expectation for a change in policy, but language regarding FX was closely watched. Governor Stevens is speaking soon, where he will address parliament’s House of Representatives’ Standing Committee on Economics.
AUD/USD Levels
The 20 DMA is 0.8988, the 50 DMA is 0.8912 and the 200 DMA is 0.9173. RSI (14) reads 78.30. Supports are ascending from 0.8933, 0.8960, 0.8969, 0.8999
and 0.9050. Spot is 0.9089 while resistances are 0.9100 and 0.9125.
Retail sales expanded robustly by 1.2%M/M in January providing further evidence that loose RBA monetary policy is helping to stimulate demand. The RBA’s monthly meeting was on Tuesday. There were no expectation for a change in policy, but language regarding FX was closely watched. Governor Stevens is speaking soon, where he will address parliament’s House of Representatives’ Standing Committee on Economics.
AUD/USD Levels
The 20 DMA is 0.8988, the 50 DMA is 0.8912 and the 200 DMA is 0.9173. RSI (14) reads 78.30. Supports are ascending from 0.8933, 0.8960, 0.8969, 0.8999
and 0.9050. Spot is 0.9089 while resistances are 0.9100 and 0.9125.