3 Jan 2014
AUD/USD extending losses on Fed speeches
FXstreet.com (London) - AUD/USD was in consolidation mode just shy of the 0.90 handle after a flurry of activity in Asia where the pair rallied on stops and profit taking and before Bernanke and Plosser took the stage.
AUD/USD was drifting south reaching 0.8975 from where the pair sunk on the hourly chart to print a lows on 0.8940. Bernanke and Plosser have essentially printed a hawkish outlook with saying the US economy is improving and that the Fed may need to be aggressive in raising interest rates, and if growth picks up, rates may need to be hiked before end of 2014. Markets will return in full next week with Tokyo back and it will be full steam ahead with Central Banks and the FOMC coming on the scene.
AUD/USD Levels
The 20 DMA is 0.8948, the 50 DMA is 0.9170 and the 200 DMA is 0.9447. RSI (14) reads 45. Support is 0.8820. Spot is currently 0.8944 with resistances at 0.9011, 0.9047, 0.9083 and 0.9125.
AUD/USD was drifting south reaching 0.8975 from where the pair sunk on the hourly chart to print a lows on 0.8940. Bernanke and Plosser have essentially printed a hawkish outlook with saying the US economy is improving and that the Fed may need to be aggressive in raising interest rates, and if growth picks up, rates may need to be hiked before end of 2014. Markets will return in full next week with Tokyo back and it will be full steam ahead with Central Banks and the FOMC coming on the scene.
AUD/USD Levels
The 20 DMA is 0.8948, the 50 DMA is 0.9170 and the 200 DMA is 0.9447. RSI (14) reads 45. Support is 0.8820. Spot is currently 0.8944 with resistances at 0.9011, 0.9047, 0.9083 and 0.9125.