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3 Oct 2013
The AUD/USD breaches 0.94 handle on the bid
FXstreet.com (London) - AUD/USD held the 0.9380 support line and has penetrated the 0.94 handle in the afternoon of the MNA session.
Emmanuel Ng explained that negative dollar vibes may continue to support the pair with the Australian Sep services index also improving significantly to 47.1 from 39.0 the previous month. “We retain a buy dips posture for the pair in the interim with base building behavior still expected around current levels. Support is seen on dips towards 0.9285 area while 0.9435 should cap pending further cues”. From the calendar, the US data isn’t supportive of an already weak dollar, with the Institute for Supply Management reporting its services index falling to 54.4 in September from 58.6 in August, missing the consensus figure of 57.4. Jobs from the US haven’t given much in the way of support to the dollar either with the Initial Jobless Claims coming in only slightly better at 308K vs 313k expected.
AUD/USD Levels
The 20 DMA is 0.9347, the 50 DMA is 0.9170 and the 200 DMA is 0.9816. RSI (14) reads 56. Supports are ascending from 0.9223, 0.9271, 0.9280, 0.9323 and 0.9380/85. Spot is currently 0.9400 while resistances are 0.9409, 0.9435, 0.9459 and 0.9468.
Emmanuel Ng explained that negative dollar vibes may continue to support the pair with the Australian Sep services index also improving significantly to 47.1 from 39.0 the previous month. “We retain a buy dips posture for the pair in the interim with base building behavior still expected around current levels. Support is seen on dips towards 0.9285 area while 0.9435 should cap pending further cues”. From the calendar, the US data isn’t supportive of an already weak dollar, with the Institute for Supply Management reporting its services index falling to 54.4 in September from 58.6 in August, missing the consensus figure of 57.4. Jobs from the US haven’t given much in the way of support to the dollar either with the Initial Jobless Claims coming in only slightly better at 308K vs 313k expected.
AUD/USD Levels
The 20 DMA is 0.9347, the 50 DMA is 0.9170 and the 200 DMA is 0.9816. RSI (14) reads 56. Supports are ascending from 0.9223, 0.9271, 0.9280, 0.9323 and 0.9380/85. Spot is currently 0.9400 while resistances are 0.9409, 0.9435, 0.9459 and 0.9468.