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7 Oct 2013
AUD/USD extends the bounce off 0.9400
FXstreet.com (Edinburgh) -The Aussie dollar is confirming its rebound from the key support at 0.9400 on Monday, taking the AUD/USD to the current area of 0.9430/35.
AUD/USD eyes on FOMC minutes, jobs data
The pair remains resilient around the upper end of the recent range, hovering over the key handle at 0.9400. The main event risks ahead in the week will come from the FOMC minutes on Wednesday and key employment data in Australia on Thursday. According to Emmanuel Ng, Analyst at OCBC Bank, “In the current dollar environment, we are also growing slightly more sanguine towards positive AUD/USD prospects although we caution that this view may be hampered ny any negative growth related headlines in the coming sessions. In the near term, expect a 0.9400-0.9500 zone to persist pending further cues”.
AUD/USD levels to watch
The pair is now losing 0.05% at 0.9431 with the next support at 0.9389 (low Oct.4) ahead of 0.9379 (MA10d) and finally 0.9367 (low Oct.3). On the flip side, a breakout of 0.9459 (high Oct.4) would open the door to 0.9534 (high Sep.19) and then 0.9530 (high Sep.18).
AUD/USD eyes on FOMC minutes, jobs data
The pair remains resilient around the upper end of the recent range, hovering over the key handle at 0.9400. The main event risks ahead in the week will come from the FOMC minutes on Wednesday and key employment data in Australia on Thursday. According to Emmanuel Ng, Analyst at OCBC Bank, “In the current dollar environment, we are also growing slightly more sanguine towards positive AUD/USD prospects although we caution that this view may be hampered ny any negative growth related headlines in the coming sessions. In the near term, expect a 0.9400-0.9500 zone to persist pending further cues”.
AUD/USD levels to watch
The pair is now losing 0.05% at 0.9431 with the next support at 0.9389 (low Oct.4) ahead of 0.9379 (MA10d) and finally 0.9367 (low Oct.3). On the flip side, a breakout of 0.9459 (high Oct.4) would open the door to 0.9534 (high Sep.19) and then 0.9530 (high Sep.18).