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5 Aug 2013
AUD/USD struggling to keep the handle
FXstreet.com (London) - AUD/USD spot is recovering from the lows of 0.8848.
AUD/USD has traded back to close the gap on the charts claiming 60 pips to 0.8920, but is now struggling to hold onto the handle. The market is awaiting the interest rate decision from Australia. The RBA is expected to cut tonight by 25 basis points. Meanwhile the pair will see ISM Non-Manufacturing PMI (Jul) in at 2GMTand consensus there is for a slight improvement to 53.0.
AUD/USD negative bias
AUD/USD has 20 d ma 0.9136, 50 d ma 0.9292, 200 d ma 1.0082. RSI (9) is reading 29.23. Supports are ascending from 0.8737, 0.8770, 0.8830 and 0.8846. Spot is currently 0.8900. Resistances are coming in at 0.8937, 0.8970, 0.8998 and 0.9015 while the pair is trading with an overal bearish bias.
AUD/USD has traded back to close the gap on the charts claiming 60 pips to 0.8920, but is now struggling to hold onto the handle. The market is awaiting the interest rate decision from Australia. The RBA is expected to cut tonight by 25 basis points. Meanwhile the pair will see ISM Non-Manufacturing PMI (Jul) in at 2GMTand consensus there is for a slight improvement to 53.0.
AUD/USD negative bias
AUD/USD has 20 d ma 0.9136, 50 d ma 0.9292, 200 d ma 1.0082. RSI (9) is reading 29.23. Supports are ascending from 0.8737, 0.8770, 0.8830 and 0.8846. Spot is currently 0.8900. Resistances are coming in at 0.8937, 0.8970, 0.8998 and 0.9015 while the pair is trading with an overal bearish bias.