AUD/USD is trading at 0.8863, down -0.25% on the day, having posted a
daily high at 0.8887 and low at 0.8855.
AUD/USD has been pressured lower down to support and sideways channel base ahead of RBA’s Governor Stevens who is stepping up at the Melbourne Economic Forum today from 12:30pm Syd/10:30am. He will be talking on the “Financial System Reform and the Monetary System”. However, Sean Callow, analyst at Westpac noted that he maybe more likely to touch on themes in yesterday’s Financial Stability Review than address the interest rate outlook. “The RBA site says “remarks and panel participation” but media have been advised that Stevens will deliver only the opening remarks, so markets may well move on quickly”.
AUD/USD support and resistance levels
Support levels: 0.8860, 0.8830 and 0.8800.
Resistance levels: 0.8920, 0.8950 and 0.8990.
AUD/USD has been pressured lower down to support and sideways channel base ahead of RBA’s Governor Stevens who is stepping up at the Melbourne Economic Forum today from 12:30pm Syd/10:30am. He will be talking on the “Financial System Reform and the Monetary System”. However, Sean Callow, analyst at Westpac noted that he maybe more likely to touch on themes in yesterday’s Financial Stability Review than address the interest rate outlook. “The RBA site says “remarks and panel participation” but media have been advised that Stevens will deliver only the opening remarks, so markets may well move on quickly”.
AUD/USD support and resistance levels
Support levels: 0.8860, 0.8830 and 0.8800.
Resistance levels: 0.8920, 0.8950 and 0.8990.
The Kiwi
continues to consolidate near year lows, currently being paid at $0.8065, with
the US Dollar bulls struggling to make further progress even since Sept 23 when
a temporary bottom was found at the 0.8040/45 level, with three failed attempts
so far.
According to Jim Langlands, Founder at FXCharts: "On the downside, bids will again be seen at 0.8050 (4 Feb low) and then at today’s session low at 0.8038. A break of that would see 0.8000 come under fire, below which would see a run to the Fibo support at 0.7985 (76.4% of 0.7670-0.8839) and then the channel base at 0.7970. Resistance is seen at 0.8090 (minor) and above there at the 100/200 HMA’s at 0.8110 and at 0.8130."
According to Jim Langlands, Founder at FXCharts: "On the downside, bids will again be seen at 0.8050 (4 Feb low) and then at today’s session low at 0.8038. A break of that would see 0.8000 come under fire, below which would see a run to the Fibo support at 0.7985 (76.4% of 0.7670-0.8839) and then the channel base at 0.7970. Resistance is seen at 0.8090 (minor) and above there at the 100/200 HMA’s at 0.8110 and at 0.8130."
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