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20 Mar 2014
AUD/USD grinding lower to 0.9020
FXStreet (Edinburgh) - The Aussie dollar keeps the lower band of the intraday range post-FOMC, with the AUD/USD meandering around 0.9020/25.
AUD/USD weaker after FOMC
The USD remains strong after yesterday’s FOMC meeting, keeping spot subdued and bordering the 0.9000 psychological handle. Furthermore, today’s USD/CNY and USD/CNH higher fixings also collaborated with the selling sentiment. No major data in Oz today, with only the RBA’s FX Transactions at A$369 million in February vs. A$362 million the previous month. “Concerns over China’s economy and financial system aren’t likely to be allayed fro some weeks yet. Not long after eking out marginal new 2014 highs around 0.9140, AUD/USD seems set to test the lower end of the past 6 weeks’ range, around 0.8890/0.8900”, commented Sean Callow, Strategist at Westpac Global Markets Strategy Group.
AUD/USD key levels
The pair is now losing 0.19% at 0.9025 with the immediate support at 0.9000 (psychological level) ahead of 0.8930 (50-d MA) and then 0.8923 (low Mar.12). On the flip side, the initial hurdle aligns at 0.9138 (high Mar.19) ahead of 0.9152 (high Dec.11) and then 0.9155 (200-d MA).
AUD/USD weaker after FOMC
The USD remains strong after yesterday’s FOMC meeting, keeping spot subdued and bordering the 0.9000 psychological handle. Furthermore, today’s USD/CNY and USD/CNH higher fixings also collaborated with the selling sentiment. No major data in Oz today, with only the RBA’s FX Transactions at A$369 million in February vs. A$362 million the previous month. “Concerns over China’s economy and financial system aren’t likely to be allayed fro some weeks yet. Not long after eking out marginal new 2014 highs around 0.9140, AUD/USD seems set to test the lower end of the past 6 weeks’ range, around 0.8890/0.8900”, commented Sean Callow, Strategist at Westpac Global Markets Strategy Group.
AUD/USD key levels
The pair is now losing 0.19% at 0.9025 with the immediate support at 0.9000 (psychological level) ahead of 0.8930 (50-d MA) and then 0.8923 (low Mar.12). On the flip side, the initial hurdle aligns at 0.9138 (high Mar.19) ahead of 0.9152 (high Dec.11) and then 0.9155 (200-d MA).