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Sep 17, 2014
AUD/USD enjoys the move from the Chinese
FXStreet (Guatemala) - AUD/USD is trading at 0.9090, down -0.05% on the day, having posted a daily high at 0.9097 and low at 0.9088.
AUD/USD reclaimed the 0.90 handle in US trade on a weaker greenback that was taken down by traders on the news from China that the banks are being injected the vast amounts of liquidity which gave relief to the markets and supported a risk on environment. Analysts at Rabobank explained that the weaker than expected economic data from China has been the principal cause of the collapse in the value of the AUD in recent weeks, though the USD‘s broad based recovery is also a factor. For now, the pair is balanced on this fundamental news, although ahead we are moving towards the FOMC and a change of language there may well be supportive of the dollar and put the pair back into the hands of the bears.
AUD/USD support and resistance levels
Support levels: 0.9075 0.9040 0.8990
Resistance levels: 0.9110 0.9150 0.9190
AUD/USD reclaimed the 0.90 handle in US trade on a weaker greenback that was taken down by traders on the news from China that the banks are being injected the vast amounts of liquidity which gave relief to the markets and supported a risk on environment. Analysts at Rabobank explained that the weaker than expected economic data from China has been the principal cause of the collapse in the value of the AUD in recent weeks, though the USD‘s broad based recovery is also a factor. For now, the pair is balanced on this fundamental news, although ahead we are moving towards the FOMC and a change of language there may well be supportive of the dollar and put the pair back into the hands of the bears.
AUD/USD support and resistance levels
Support levels: 0.9075 0.9040 0.8990
Resistance levels: 0.9110 0.9150 0.9190