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13 Aug 2014
AUD/USD firmer, eyes on 0.9300
FXStreet (Edinburgh) - The Aussie dollar is now trading on a better tone, pushing the AUD/USD to test the vicinity of the key barrier at 0.9300 the figure.
AUD/USD firmer post-data
The AUD found support in today’s better figures from the Consumer Confidence tracked by Westpac, advancing to 98.5 for the month of August. Traders remain in a cautious tone in light of the recent neutral statement from the RBA and the ongoing USD rally, hurting the high-beta currencies. “The pair may find near term support as a result while China data points later in the morning may have a greater bearing. A t this juncture we would prefer to fade any upticks to 0.9300 with the 0.9250 support still looking tenuous and with investors still not expected to return to carry in a significant way”, suggested Emmanuel Ng, FX Strategist at OCBC Bank.
AUD/USD levels to consider
The pair is now advancing 0.25% at 0.9293 and a surpass of 0.9358 (high Aug.7) would expose 0.9376 (high Aug.6) and finally 0.9390 (high Jul.30). On the flip side, the immediate support aligns at 0.9239 (low Aug.8) followed by 0.9229 (low Jun.3) and then 0.9210 (low May 29).
AUD/USD firmer post-data
The AUD found support in today’s better figures from the Consumer Confidence tracked by Westpac, advancing to 98.5 for the month of August. Traders remain in a cautious tone in light of the recent neutral statement from the RBA and the ongoing USD rally, hurting the high-beta currencies. “The pair may find near term support as a result while China data points later in the morning may have a greater bearing. A t this juncture we would prefer to fade any upticks to 0.9300 with the 0.9250 support still looking tenuous and with investors still not expected to return to carry in a significant way”, suggested Emmanuel Ng, FX Strategist at OCBC Bank.
AUD/USD levels to consider
The pair is now advancing 0.25% at 0.9293 and a surpass of 0.9358 (high Aug.7) would expose 0.9376 (high Aug.6) and finally 0.9390 (high Jul.30). On the flip side, the immediate support aligns at 0.9239 (low Aug.8) followed by 0.9229 (low Jun.3) and then 0.9210 (low May 29).