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Sep 4, 2014
AUD/USD above 0.9350 and steady for now
FXStreet (Guatemala) - AUD/USD is trading at 0.9353, up 0.08% on the day, having posted a daily high at 0.9367 and low at 0.9337.
AUD/USD changing hands through 0.9350 on the data releases which came as Retails Sales 0.4% as expected and the trade balances -359m vs -1510m . We now await the ADP employment results from the US. “Expectations are for another strong reading of 223K, but that will not tell us any more about the underlying dynamics of the US labour market”, as analysts at Rabobank explained. “Are we about to see wage growth accelerate, or are they on the ‘road to nowhere’?” Meanwhile, the FXStreet OB/OS Index is reflecting overbought hourly conditions in the AUD/USD, while the FXStreet Trend Index is slightly bullish.
AUD/USD support resistance levels
Support levels: 0.9330 0.9300 0.9260
Resistance levels: 0.9370 0.9410 0.9460
AUD/USD changing hands through 0.9350 on the data releases which came as Retails Sales 0.4% as expected and the trade balances -359m vs -1510m . We now await the ADP employment results from the US. “Expectations are for another strong reading of 223K, but that will not tell us any more about the underlying dynamics of the US labour market”, as analysts at Rabobank explained. “Are we about to see wage growth accelerate, or are they on the ‘road to nowhere’?” Meanwhile, the FXStreet OB/OS Index is reflecting overbought hourly conditions in the AUD/USD, while the FXStreet Trend Index is slightly bullish.
AUD/USD support resistance levels
Support levels: 0.9330 0.9300 0.9260
Resistance levels: 0.9370 0.9410 0.9460