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28 Jan 2014
AUD/USD off highs, back to 0.8760
FXstreet.com (Edinburgh) - The Australian dollar is now slipping back to the area of 0.8770/65 on Tuesday, with the AUD/USD correcting lower from session peaks just above 0.8790.
AUD/USD bid after positive data
The buying interest around the AUD accelerated after NAB’s Business Conditions improved to 4 during December from -3 previous, while NAB’s Business Confidence remained at 6. The pair managed to climb to fresh intraday highs near 0.8790, although the bull attempt ran out of legs afterwards. “The bounce in Dec/Jan Aust business survey should reinforce the surge in Q4 CPI to see the RBA drop its mild easing bias next week… The wild card is offshore: probably not so much the FOMC but EM – especially Asia – sentiment”.
AUD/USD relevant levels
The pair is now advancing 0.31% at 0.8777 and a break above 0.8853 (high Jan.23) would open the door to 0.8889 (high Jan.22) and finally 0.8915 (high Jan.16). On the downside, the initial test aligns at 0.8668 (low Jul.20 2010) ahead of 0.8543 (long term 50% Fibo) and then 0.8450 (low Jul.7 2010).
AUD/USD bid after positive data
The buying interest around the AUD accelerated after NAB’s Business Conditions improved to 4 during December from -3 previous, while NAB’s Business Confidence remained at 6. The pair managed to climb to fresh intraday highs near 0.8790, although the bull attempt ran out of legs afterwards. “The bounce in Dec/Jan Aust business survey should reinforce the surge in Q4 CPI to see the RBA drop its mild easing bias next week… The wild card is offshore: probably not so much the FOMC but EM – especially Asia – sentiment”.
AUD/USD relevant levels
The pair is now advancing 0.31% at 0.8777 and a break above 0.8853 (high Jan.23) would open the door to 0.8889 (high Jan.22) and finally 0.8915 (high Jan.16). On the downside, the initial test aligns at 0.8668 (low Jul.20 2010) ahead of 0.8543 (long term 50% Fibo) and then 0.8450 (low Jul.7 2010).