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20 Mar 2014
AUD/USD weighed upon by China
FXStreet (Guatemala) - AUD/USD is lower and reached a low of 0.9001 on fears of further headwinds from China with further bankruptcies on the chatter. There is also a correlation with the USD/CNY fix.
AUD/USD fell and coincided with the USD/CNY mid point fix which came in at 6.1460 vs 6.1351, higher than expected. AUD/USD has been sliding on the session and touched 0.9001 before catching a small bounce back into the teens on the handle. Karen Jones, chief analyst at Commerzbank explained that dips lower will find good initial support offered by the 20 day ma at 0.9014 and again at 0.8891, the 3rd March low and we suspect we will need prices below here to bring back any real selling interest.
AUD/USD Levels
The 20 DMA is 0.9009, the 50 DMA is 0.8936 and the 200 DMA is 0.9149. RSI (14) reads 28.08. Supports are ascending from 0.8991 and 0.9001. Spot is 0.9015 while resistances are 0.9020, 0.9040, 0.9100, 0.9141, 0.9169, 0.9204 and 0.9260.
AUD/USD fell and coincided with the USD/CNY mid point fix which came in at 6.1460 vs 6.1351, higher than expected. AUD/USD has been sliding on the session and touched 0.9001 before catching a small bounce back into the teens on the handle. Karen Jones, chief analyst at Commerzbank explained that dips lower will find good initial support offered by the 20 day ma at 0.9014 and again at 0.8891, the 3rd March low and we suspect we will need prices below here to bring back any real selling interest.
AUD/USD Levels
The 20 DMA is 0.9009, the 50 DMA is 0.8936 and the 200 DMA is 0.9149. RSI (14) reads 28.08. Supports are ascending from 0.8991 and 0.9001. Spot is 0.9015 while resistances are 0.9020, 0.9040, 0.9100, 0.9141, 0.9169, 0.9204 and 0.9260.