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4 Jun 2014
AUD/USD bulls kept in check
FXStreet (Guatemala) - AUD/USD is trading at 0.9277, up 0.15% on the day, having posted a daily high at 0.9300 and low at 0.9253.
AUD/USD has held form in the upper half of the 0.92 handle with strong supporting foundation’s post the GDP results for Australia. Analysts at Rabobank noted that qt 1.1% q/q Australian first quarter GDP growth rate is again the envy of most other developed economies. “The data drives home the point that the bearish outlook that persisted into the start of this year was more than a little wrong footed”. That said, the analyst’s explained, the economic outlook is not without risk and this should keep AUD bulls in check going forward”.
AUD/USD Levels
With spot trading at 0.9278, we can see next resistance ahead at 0.9283 (Daily 20 SMA), 0.9284 (Weekly Classic PP), 0.9290 (Yesterday's High), 0.9294 (Daily Classic R1) and 0.9300 (Daily High). Support below can be found at 0.9276 (Hourly 100 SMA), 0.9270 (Hourly 20 EMA), 0.9265 (Daily Open), 0.9262 (Hourly 200 SMA) and 0.9261 (Daily Classic PP).
AUD/USD has held form in the upper half of the 0.92 handle with strong supporting foundation’s post the GDP results for Australia. Analysts at Rabobank noted that qt 1.1% q/q Australian first quarter GDP growth rate is again the envy of most other developed economies. “The data drives home the point that the bearish outlook that persisted into the start of this year was more than a little wrong footed”. That said, the analyst’s explained, the economic outlook is not without risk and this should keep AUD bulls in check going forward”.
AUD/USD Levels
With spot trading at 0.9278, we can see next resistance ahead at 0.9283 (Daily 20 SMA), 0.9284 (Weekly Classic PP), 0.9290 (Yesterday's High), 0.9294 (Daily Classic R1) and 0.9300 (Daily High). Support below can be found at 0.9276 (Hourly 100 SMA), 0.9270 (Hourly 20 EMA), 0.9265 (Daily Open), 0.9262 (Hourly 200 SMA) and 0.9261 (Daily Classic PP).