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8 Oct 2013
AUD/USD printing gains; hits skies at 0.9450
FXstreet.com (Chicago) - AUD/USD strengthened fueled by a positive reaction among market participants to better than expected Australian data indicating high confidence and expectations in the economy.
Results show improvements
Better than expected data in Australia may have contributed to the Aussie’s strengthening against the dollar, sending the pair to fresh new highs at the opening of Tokyo. At 1.1%, the ANZ job advertisements results for September improved considerably compared to prior -3.2% results. The NBA’s business conditions results were -4 vs. past -7 while the NBA’s business confidence results were 12, 3 times stronger than the previous month and the highest in about 3 and a half years. In the US, the political crisis continues and the country runs out of time before its debt ceiling deadline.
AUD/USD Technical Levels
Technically speaking, the pair is offered at 0.9443 and oscillates between supports aligned at 0.94 (September 26th highs), 0.9339 (September 24th lows) ahead of 0.9278 (September 29th lows) and the resistances set at 0.9459 (October 4th highs), 0.95 (June 16th lows) followed by 0.9550 (June 20th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20. The upward trendline originated last August 30th continues intact and price action reveals higher highs and lows with session records at 0.9450.
Results show improvements
Better than expected data in Australia may have contributed to the Aussie’s strengthening against the dollar, sending the pair to fresh new highs at the opening of Tokyo. At 1.1%, the ANZ job advertisements results for September improved considerably compared to prior -3.2% results. The NBA’s business conditions results were -4 vs. past -7 while the NBA’s business confidence results were 12, 3 times stronger than the previous month and the highest in about 3 and a half years. In the US, the political crisis continues and the country runs out of time before its debt ceiling deadline.
AUD/USD Technical Levels
Technically speaking, the pair is offered at 0.9443 and oscillates between supports aligned at 0.94 (September 26th highs), 0.9339 (September 24th lows) ahead of 0.9278 (September 29th lows) and the resistances set at 0.9459 (October 4th highs), 0.95 (June 16th lows) followed by 0.9550 (June 20th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20. The upward trendline originated last August 30th continues intact and price action reveals higher highs and lows with session records at 0.9450.