Back
8 Oct 2013
AUD/USD tests highs beyond 0.9440
FXstreet.com (Edinburgh) -The bullish momentum around the Aussie dollar persists on Tuesday, lifting the AUD/USD to another test of the upper end of the weekly range in the area of 0.9440/50.
AUD/USD bolstered by data
The Business Confidence sponsored by NAB improved to 12 for the month of September, up from 4 in the previous print, while Business Conditions bettered to -4 from -7. Markets in China are back to normalcy, with the Services PMI gauged by HSBC coming in at 52.4 in September, a tad lower than August’s 52.8. According to the research team at NAB, “We have deferred our cash rate cut call to February due to the RBA seeming more comfortable about future conditions given the recent improvement in sentiment and asset (especially housing) prices. Nonetheless, our big picture view is unchanged and we continue to see another cut coming”.
AUD/USD relevant levels
At the moment the pair is advancing 0.22% at 0.9449 with the next hurdle at 0.9459 (high Oct.4) followed by 0.9524 (high Sep.19) and finally 0.9530 (high Sep.18). On the downside, a break below 0.9389 (low Oct.4) would aim for 0.9379 (MA10d) and then 0.9367 (low Oct.3).
AUD/USD bolstered by data
The Business Confidence sponsored by NAB improved to 12 for the month of September, up from 4 in the previous print, while Business Conditions bettered to -4 from -7. Markets in China are back to normalcy, with the Services PMI gauged by HSBC coming in at 52.4 in September, a tad lower than August’s 52.8. According to the research team at NAB, “We have deferred our cash rate cut call to February due to the RBA seeming more comfortable about future conditions given the recent improvement in sentiment and asset (especially housing) prices. Nonetheless, our big picture view is unchanged and we continue to see another cut coming”.
AUD/USD relevant levels
At the moment the pair is advancing 0.22% at 0.9449 with the next hurdle at 0.9459 (high Oct.4) followed by 0.9524 (high Sep.19) and finally 0.9530 (high Sep.18). On the downside, a break below 0.9389 (low Oct.4) would aim for 0.9379 (MA10d) and then 0.9367 (low Oct.3).