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20 May 2014
AUD/USD had the upper hand, the pair is below 0.9300
FXStreet (Moscow) - AUD/USDdipped below 0.9300 pivot in Asia after dovish RBA minutes. The dynamics remain bearish, new lows are in sight
Waiting till Thursday
Now when we got the RBA meeting minutes, and we may quickly forget about it, as the text releated to the policy meeting that had a new quarterly Statement on Monetary Policy. The market already got the new forecasts and views during the meeting, so the release became another non-event for the pair. This means that the key focus for the pair is still the data from China, and this means that there will be no market-moving catalysts up till Thursday when Chinese PMI data is released. For now, the upside for the pair may be limited by 0.9366 resistance, with 0.9270 support to the downside.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9344, with support below at 0.9311, 0.9291 and 0.9258, with resistance above at 0.9364, 0.9397 and 0.9417. Hourly Moving Averages are bearish, with the 200SMA at 0.9362 and the daily 20EMA at 0.9330. Hourly RSI is bearish at 21.
Waiting till Thursday
Now when we got the RBA meeting minutes, and we may quickly forget about it, as the text releated to the policy meeting that had a new quarterly Statement on Monetary Policy. The market already got the new forecasts and views during the meeting, so the release became another non-event for the pair. This means that the key focus for the pair is still the data from China, and this means that there will be no market-moving catalysts up till Thursday when Chinese PMI data is released. For now, the upside for the pair may be limited by 0.9366 resistance, with 0.9270 support to the downside.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9344, with support below at 0.9311, 0.9291 and 0.9258, with resistance above at 0.9364, 0.9397 and 0.9417. Hourly Moving Averages are bearish, with the 200SMA at 0.9362 and the daily 20EMA at 0.9330. Hourly RSI is bearish at 21.