Back
14 May 2014
AUD/USD slips to 0.9370
FXStreet (Edinburgh) - The AUD is now giving away part of the recent gains, dragging the AUD/USD back to the 0.9370/65 area.
AUD/USD deflates from 0.9410
After reaching 4-week highs in the boundaries of 0.9410, spot failed to sustain the bull run and is now deflating to the 0.9370 region. Next of relevance in the Australian docket will be April’s Consumer Inflation Expectations due tomorrow (2.4% prev.), ahead of the RBA minutes on Tuesday. “The market is now pricing in just a 16% chance of an interest rate hike in the next 12 months. We hold a Q22014 target of 0.93 and a year-end target of 0.92”, signalled Camilla Sutton, Chief FX Strategist at Scotiabank.
AUD/USD key levels
As of writing the pair is up 0.21% at 0.9378 with the next resistance at 0.9427 (high Apr.11) ahead of 0.9461 (high Apr.10) and then 0.9500 (psychological level). On the flip side, a breakdown of 0.9227 (low Apr.29) would open the door to 0.9225 (low Apr.4) and finally 0.9184 (50-d MA).
AUD/USD deflates from 0.9410
After reaching 4-week highs in the boundaries of 0.9410, spot failed to sustain the bull run and is now deflating to the 0.9370 region. Next of relevance in the Australian docket will be April’s Consumer Inflation Expectations due tomorrow (2.4% prev.), ahead of the RBA minutes on Tuesday. “The market is now pricing in just a 16% chance of an interest rate hike in the next 12 months. We hold a Q22014 target of 0.93 and a year-end target of 0.92”, signalled Camilla Sutton, Chief FX Strategist at Scotiabank.
AUD/USD key levels
As of writing the pair is up 0.21% at 0.9378 with the next resistance at 0.9427 (high Apr.11) ahead of 0.9461 (high Apr.10) and then 0.9500 (psychological level). On the flip side, a breakdown of 0.9227 (low Apr.29) would open the door to 0.9225 (low Apr.4) and finally 0.9184 (50-d MA).