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30 Sep 2013
AUD/USD hovering over 0.9300
FXstreet.com (Edinburgh) -The Aussie dollar is grinding lower at the beginning of the week, with the AUD/USD now flirting with the 0.9300 handle, down from peaks around 0.9370.
AUD/USD focus on the RBA
Busy docket in Australia this week, with the RBA monthly meeting as the main risk event for AUD traders ahead of the US Non farm Payrolls due on Friday. According to market consensus, the RBA would remain in the sidelines in October, although there is the likeliness of a dovish tone from the central bank. In the opinion of analysts at Westpac Global Strategy Group, the remaining data should be mixed,leaving the pair to te mercy of the risk trends, adding, “At least early in the week as the US government faces a very likely shutdown, skittish equities should keep the Aussie under pressure, risking the 0.92 area. But if a deal limits the shutdown to just a few days, AUD should be among those to benefit. China’s official Sep PMI (Tue) poses a risk after the surprise downward revision to the HSBC version. Balance of risks suggests selling rallies multi-day”.
AUD/USD relevant levels
As of writing the pair is losing 0.09% at 0.9308 with the next support at 0.9285 (low Sep.17) followed by 0.9271 (high Sep.13) and then 0.9223 (low Sep.13). On the upside, a breakout of 0.9336 (low Sep.18) would open the door to 0.9381 (MA10d) and then 0.9403 (high Sep.26).
AUD/USD focus on the RBA
Busy docket in Australia this week, with the RBA monthly meeting as the main risk event for AUD traders ahead of the US Non farm Payrolls due on Friday. According to market consensus, the RBA would remain in the sidelines in October, although there is the likeliness of a dovish tone from the central bank. In the opinion of analysts at Westpac Global Strategy Group, the remaining data should be mixed,leaving the pair to te mercy of the risk trends, adding, “At least early in the week as the US government faces a very likely shutdown, skittish equities should keep the Aussie under pressure, risking the 0.92 area. But if a deal limits the shutdown to just a few days, AUD should be among those to benefit. China’s official Sep PMI (Tue) poses a risk after the surprise downward revision to the HSBC version. Balance of risks suggests selling rallies multi-day”.
AUD/USD relevant levels
As of writing the pair is losing 0.09% at 0.9308 with the next support at 0.9285 (low Sep.17) followed by 0.9271 (high Sep.13) and then 0.9223 (low Sep.13). On the upside, a breakout of 0.9336 (low Sep.18) would open the door to 0.9381 (MA10d) and then 0.9403 (high Sep.26).