AUD/USd Falls Under Bearish Pressure, Trading At 0.9337
Masterforex-V | May 07, 2014 11:23AM ET
The AUD/USD fell this morning under bearish pressure and is now trading at 0.9337, moving away from the Asian high of 0.9357. Above the mark of 0.9300, but still too far from the highs. On Tuesday evening, AUD/USD broke above the level of 0.9300 and hit the mark of 0.9354 against the background of the coincidence of technical factors and the general weakening of USD. Retail sales in Australia in March failed to meet expectations (their growth was +0.1% vs. +0.3%).
The fell short of forecasts activity index AiG and the slow growth of HSBC PMI index in the services sector in China even more have clouded the macroeconomic picture. The AUD/USD has retreated from yesterday's high, but still is trading above the mark of 0.9300, which is a positive factor for the bulls technically.
Today, on May 7, 2014, in Congress, it will be held the speech of FRS Janet Yellen. The speech could trigger a surge in volatility. It is necessary to monitor the level of support 0.9300. If it is broken, the bears rush to the next level of 0.9280. The growth will be constrained by Tuesday maximum of 0.9366.
Central Pivot: 0.9329, below are located the support levels of 0.9289, 0.9228 and 0.9188, and above - resistance levels of 0.9390, 0.9430 and 0.9491. Time Moving Averages deployed up, 200SMA is at 0.9279, and the daily 20EMA - at 0.9286. Local deployed up and RSI is at 58.
Yesterday, the NZD/USD was among the pairs that showed the best results - the price soared to multi-year highs against the background of widespread sales of USD. Data of employment in New Zealand fell short of forecasts, but the rollback of NZD/USD from the overbought levels, has occurred because the representatives of RBNZ`s guilt, who warned about the possibility of CBR interventions to curb the further growth of NZD. During the day, the dynamics of the pair NZD/USD will be determined by the general mood of the market against USD. Growth can be contained in the area of 0.8750, while support noted at 0.8680 and 0.8750.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.