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20 Sep 2013
AUD/USD parked around 0.9450
FXstreet.com (Edinburgh) -The AUD/USD seems to have found decent support around 0.9430, after being rejected from the boundaries of 0.9530, or 3-month highs.
AUD/USD eyes on Chinese data
Ahead in the week, the most relevant event for the AUD traders will be the advanced Chinese manufacturing PMI sponsored by HSBC for the month of September, as the Australian docket will be absolutely irrelevant. “While the bank is now seemingly on hold, we would not rule out the need for further cuts on a 12M horizon. Indeed, the RBA welcomes the AUD’s depreciation over past months and emphasizes that more may be needed”, observed analysts at Danske Bank.
AUD/USD levels to watch
The pair is now up 0.13% at 0.9453 with the next resistance at 0.9511 (38.2% of 1.0583-0.8848) followed by 0.9524 (high Sep.19) and finally 0.9530 (high Sep.18). On the flip side, a breakdown of 0.9427 (low Sep.19) would expose 0.9393 (high Sep.16) and then 0.9379 (23.6% of 0.8891-0.9530).
AUD/USD eyes on Chinese data
Ahead in the week, the most relevant event for the AUD traders will be the advanced Chinese manufacturing PMI sponsored by HSBC for the month of September, as the Australian docket will be absolutely irrelevant. “While the bank is now seemingly on hold, we would not rule out the need for further cuts on a 12M horizon. Indeed, the RBA welcomes the AUD’s depreciation over past months and emphasizes that more may be needed”, observed analysts at Danske Bank.
AUD/USD levels to watch
The pair is now up 0.13% at 0.9453 with the next resistance at 0.9511 (38.2% of 1.0583-0.8848) followed by 0.9524 (high Sep.19) and finally 0.9530 (high Sep.18). On the flip side, a breakdown of 0.9427 (low Sep.19) would expose 0.9393 (high Sep.16) and then 0.9379 (23.6% of 0.8891-0.9530).