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12 Mar 2014
AUD/USD in red near 0.8960
FXStreet (Edinburgh) -The Aussie dollar is extending its downbeat moment on Wednesday, taking the AUD/USD to the area of 0.8960.
AUD/USD in a narrow range
The pair is meandering around 0.8950 and 0.8970 so far, down almost one big-figure from yesterday’s peaks just above 0.9050 following a sharp sell-off in iron ore and copper. Data-wise in Oz, the Consumer Confidence sponsored by the Westpac index dropped to 99.5 for the month of March from 100.2 while Home Loans posted no variation in January, bettering estimates for a 0.5% drop. “The outcome of this survey stands in contrast to accelerating consumer spending of recent months”, commented Strategist Prashant Newnaha at TD Securities. The pair could grab some oxygen in case tomorrow’s key employment figures match consensus, expecting an increment of 18K in February.
AUD/USD key levels
The pair is now losing 0.21% at 0.8958 and a breakdown of 0.8934 (low Mar.5) and then 0.8926 (50-d MA). On the upside, the initial hurdle aligns at 0.9064 (high Mar.19) followed by 0.9135 (high Mar.7) and then 0.9152 (high Dec.11).
AUD/USD in a narrow range
The pair is meandering around 0.8950 and 0.8970 so far, down almost one big-figure from yesterday’s peaks just above 0.9050 following a sharp sell-off in iron ore and copper. Data-wise in Oz, the Consumer Confidence sponsored by the Westpac index dropped to 99.5 for the month of March from 100.2 while Home Loans posted no variation in January, bettering estimates for a 0.5% drop. “The outcome of this survey stands in contrast to accelerating consumer spending of recent months”, commented Strategist Prashant Newnaha at TD Securities. The pair could grab some oxygen in case tomorrow’s key employment figures match consensus, expecting an increment of 18K in February.
AUD/USD key levels
The pair is now losing 0.21% at 0.8958 and a breakdown of 0.8934 (low Mar.5) and then 0.8926 (50-d MA). On the upside, the initial hurdle aligns at 0.9064 (high Mar.19) followed by 0.9135 (high Mar.7) and then 0.9152 (high Dec.11).