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21 May 2014
AUD/USD stabilizing around 0.9210
FXStreet (Edinburgh) - The Aussie dollar is now looking to consolidate in the area of 0.9210/15, with the AUD/USD coming down from session tops in the 0.9240 region.
AUD/USD focus on the FOMC minutes
The generalized bid tone around the US dollar is keeping the demand for the AUD subdued on Wednesday, while market participants keep waiting for the FOMC minutes due later. Moving forward to the next risk events for the AUD, tomorrow’s Consumer Inflation Expectations in Australia and the advanced manufacturing PMI in China will grab all the attention. “Previous trendline support will now act as resistance and should provide resistance at .9303 – while capped here the market will remain directly offered”, observed Karen Jones, Head of FICC Technical Analysis at Commerzbank.
AUD/USD levels to consider
The pair is now losing 0.27% at 0.9218 with the next support at 0.9171 (200-d MA) ahead of 0.9155 (low Mar.26). On the upside, a break above 0.9272 (50-d MA) would expose 0.9336 (high May 20) and finally 0.9377 (high May 19).
AUD/USD focus on the FOMC minutes
The generalized bid tone around the US dollar is keeping the demand for the AUD subdued on Wednesday, while market participants keep waiting for the FOMC minutes due later. Moving forward to the next risk events for the AUD, tomorrow’s Consumer Inflation Expectations in Australia and the advanced manufacturing PMI in China will grab all the attention. “Previous trendline support will now act as resistance and should provide resistance at .9303 – while capped here the market will remain directly offered”, observed Karen Jones, Head of FICC Technical Analysis at Commerzbank.
AUD/USD levels to consider
The pair is now losing 0.27% at 0.9218 with the next support at 0.9171 (200-d MA) ahead of 0.9155 (low Mar.26). On the upside, a break above 0.9272 (50-d MA) would expose 0.9336 (high May 20) and finally 0.9377 (high May 19).