Back
2 Jun 2014
AUD/USD quiet before the storm
FXStreet (Guatemala) - AUD/USD is trading at 0.9246, down -0.68% on the day, having posted a daily high at 0.9315 and low at 0.9233.
AUD/USD is steady and sticking to a tight range post the drop and loss of the 0.93 handle from the Asian shift yesterday and finally reaching a low of 0.9232. Lee Hardman, analyst at The Bank of Tokyo-Mitsubishi UFJ, Ltd noted that The AUD was undermined overnight by evidence of weakness in the Australian housing market. "Building approvals declined by a more than expected 5.6% in April, and the RPdata/Rismark house price index declined by 1.9% in May".
AUD/USD key event
Analysts at RBS noted that the RBA decision is due and leads off a busy event week in Australia that includes the RBA decision, first quarter GDP growth, and the April trade balance and retail sales. “We see a risk that the RBA expresses heightened concern about the strength of the AUD at the June meeting…In China, the HSBC measure of manufacturing PMI for May is released along with the official non-manufacturing PMI for May”.
AUD/USD Levels
Spot is presently trading at 0.9247, and next resistance can be seen at 0.9255 (Hourly 200 SMA), 0.9260 (Hourly 20 EMA), 0.9265 (Daily Classic S2), 0.9271 (Hourly 100 SMA) and 0.9284 (Weekly Classic PP). Support below can be found at 0.9244 (Daily Classic S3), 0.9237 (Weekly Classic S1), 0.9236 (Weekly Low), 0.9233 (Daily Low) and 0.9222 (Monthly Low).
AUD/USD is steady and sticking to a tight range post the drop and loss of the 0.93 handle from the Asian shift yesterday and finally reaching a low of 0.9232. Lee Hardman, analyst at The Bank of Tokyo-Mitsubishi UFJ, Ltd noted that The AUD was undermined overnight by evidence of weakness in the Australian housing market. "Building approvals declined by a more than expected 5.6% in April, and the RPdata/Rismark house price index declined by 1.9% in May".
AUD/USD key event
Analysts at RBS noted that the RBA decision is due and leads off a busy event week in Australia that includes the RBA decision, first quarter GDP growth, and the April trade balance and retail sales. “We see a risk that the RBA expresses heightened concern about the strength of the AUD at the June meeting…In China, the HSBC measure of manufacturing PMI for May is released along with the official non-manufacturing PMI for May”.
AUD/USD Levels
Spot is presently trading at 0.9247, and next resistance can be seen at 0.9255 (Hourly 200 SMA), 0.9260 (Hourly 20 EMA), 0.9265 (Daily Classic S2), 0.9271 (Hourly 100 SMA) and 0.9284 (Weekly Classic PP). Support below can be found at 0.9244 (Daily Classic S3), 0.9237 (Weekly Classic S1), 0.9236 (Weekly Low), 0.9233 (Daily Low) and 0.9222 (Monthly Low).