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4 Apr 2014
AUD/USD in neutral territory
FXStreet (Guatemala) - AUD/USD is trading at 0.9230, down -0.01% on the day, having posted a daily high at 0.9237 and low at 0.9230.
AUD/USD took a hit with disappointing data from yesterday and hasn’t made a recovery, still trading sub the previous support at 0.9240.
AUD data disappointing
Yesterday, we are reminded by strategists at TD Securities, Feb Retail Sales (+0.2% vs 0.3% exp, 1.2% prior); Feb Trade Balance (A$1.2b, vs A$800m exp, prior revised down from A$1.433b prior to A$1.392b). “Key takeaway is that trend growth is likely to be reached sooner rather than later—assuming Q1 GDP at +1%/qtr, annual GDP growth is projected at 3.3%/yr, 18 months ahead of the RBA’s conservative February estimates”.
Daily RSI sits at 66.64, in neutral territory
Looking to momentum indicators, the hourly 200 SMA is currently at 0.9236, up from the last close at 0.9223 and climbing. Over the past 20 days, the exponential average closing price is 0.9139, and trending higher.
AUD/USD Levels (Doji 4-hour)
Looking at price patterns, we can see a Doji 4-hour candlestick formation, this tells us the pair is in neutral territory on an hourly basis. Current price is 0.9231, with resistance ahead at 0.9232 (Weekly Low), 0.9234 (Daily Open), 0.9237 (Daily High), 0.9244 (Hourly 100 SMA) and 0.9245 (Daily Classic PP). Next support to the downside can be found at 0.9230 (Daily Low), 0.9229 (Hourly 20 EMA), 0.9225 (Daily Classic S1), 0.9223 (Hourly 200 SMA) and 0.9206 (Yesterday's Low).
AUD/USD took a hit with disappointing data from yesterday and hasn’t made a recovery, still trading sub the previous support at 0.9240.
AUD data disappointing
Yesterday, we are reminded by strategists at TD Securities, Feb Retail Sales (+0.2% vs 0.3% exp, 1.2% prior); Feb Trade Balance (A$1.2b, vs A$800m exp, prior revised down from A$1.433b prior to A$1.392b). “Key takeaway is that trend growth is likely to be reached sooner rather than later—assuming Q1 GDP at +1%/qtr, annual GDP growth is projected at 3.3%/yr, 18 months ahead of the RBA’s conservative February estimates”.
Daily RSI sits at 66.64, in neutral territory
Looking to momentum indicators, the hourly 200 SMA is currently at 0.9236, up from the last close at 0.9223 and climbing. Over the past 20 days, the exponential average closing price is 0.9139, and trending higher.
AUD/USD Levels (Doji 4-hour)
Looking at price patterns, we can see a Doji 4-hour candlestick formation, this tells us the pair is in neutral territory on an hourly basis. Current price is 0.9231, with resistance ahead at 0.9232 (Weekly Low), 0.9234 (Daily Open), 0.9237 (Daily High), 0.9244 (Hourly 100 SMA) and 0.9245 (Daily Classic PP). Next support to the downside can be found at 0.9230 (Daily Low), 0.9229 (Hourly 20 EMA), 0.9225 (Daily Classic S1), 0.9223 (Hourly 200 SMA) and 0.9206 (Yesterday's Low).