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27 May 2014
AUD/USD bulls are still committing
FXStreet (Guatemala) - AUD/USD is trading at 0.9239, up 0.03% on the day, having posted a daily high at 0.9246 and low at 0.9235.
AUD/USD is leading the bulls along this week in a slow grinding manner, bringing us to the calendar and searching for the impetus. This isn’t with us today but Prashant Newnaha, Strategist, FX and Rates Strategy at TD Securities explained that they are expecting a strong print for Q1 GDP (released June 4) but said it won’t be via from next week’s releases of construction work done (Wednesday) and the capex survey (Thursday) as they expect falls in both. “Capex is more important for 2014/15 expectations, and even those aren't expected to be pretty. Credit worth a quick glance on Fri (TD +0.4%, last +0.4%) to see if housing credit is going anywhere”.
AUD/USD Levels
Current price is 0.9240, with resistance ahead at 0.9246 (Daily High), 0.9251 (Daily Classic R1), 0.9252 (Yesterday's High), 0.9270 (Daily Classic R2) and 0.9272 (Weekly Classic PP). Next support to the downside can be found at 0.9239 (Hourly 20 EMA), 0.9238 (Hourly 100 SMA), 0.9237 (Daily Open), 0.9235 (Daily Low) and 0.9232 (Daily Classic PP).
AUD/USD chart formations
Looking at price patterns, we can see a Doji 4-hour candlestick formation.
AUD/USD is leading the bulls along this week in a slow grinding manner, bringing us to the calendar and searching for the impetus. This isn’t with us today but Prashant Newnaha, Strategist, FX and Rates Strategy at TD Securities explained that they are expecting a strong print for Q1 GDP (released June 4) but said it won’t be via from next week’s releases of construction work done (Wednesday) and the capex survey (Thursday) as they expect falls in both. “Capex is more important for 2014/15 expectations, and even those aren't expected to be pretty. Credit worth a quick glance on Fri (TD +0.4%, last +0.4%) to see if housing credit is going anywhere”.
AUD/USD Levels
Current price is 0.9240, with resistance ahead at 0.9246 (Daily High), 0.9251 (Daily Classic R1), 0.9252 (Yesterday's High), 0.9270 (Daily Classic R2) and 0.9272 (Weekly Classic PP). Next support to the downside can be found at 0.9239 (Hourly 20 EMA), 0.9238 (Hourly 100 SMA), 0.9237 (Daily Open), 0.9235 (Daily Low) and 0.9232 (Daily Classic PP).
AUD/USD chart formations
Looking at price patterns, we can see a Doji 4-hour candlestick formation.