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AUD/USD supported near 0.9330

FXStreet (Edinburgh) - The Aussie dollar found some buying interest in the area of 0.9330 on Thursday, now taking the AUD/USD back to the 0.9340/45 band.

AUD/USD returns from highs sub-0.9370

Spot came down from overnight peaks below the 0.9370 level despite the good results from the Trade Balance and Retail Sales in Oz during July. The context continues to favour the greenback so far, offsetting the positive readings in the high-beta space and somehow limiting the upside. Analysts at Westpac suggested, “AUD/USD continues to trade well in the face of commodity price weakness, seeming at times ready for an upside breakout. Yet on a daily close basis, a mere 0.9262-0.9357 range has contained every day since 29 July… . But to break 0.9400 we are likely to need notably better China data momentum, which doesn’t seem imminent”.

AUD/USD key levels

At the moment the pair is flat at 0.9346 and a surpass of 0.9374 (high Aug.28) would expose 0.9376 (high Aug.6) and finally 0.9390 (high Jul.30). On the downside, the immedidate support lines up at 0.9263 (low Sep.3) followed by 0.9250 (trendline) and finally 0.9235 (low Aug.21).

EUR/NOK seen at 8.30 in 3 months - UBS

The UBS analyst team noted that the Norwegian krone weakened after the release of the latest survey on Norway oil & gas investments which confirmed the Norges Bank's concerns about oil-related investments dropping at least 10% in 2015.
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