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31 Mar 2014
AUD/USD tests the 0.9260 frontier
FXStreet (San Francisco) - The Aussie is trading higher against its American counterpart as risk appetite is ruling the market and Janeth Yellen said the Fed hasn't finished to fuel US economy.
The Chicago PMI declined more than expected to 55.9 in March while expectations were around 58.5. It was the lowest level since September 2013. However market is digesting well the data as Janeth Yellen commented in a recent speech that economy needs more extraordinary support and that the market and jobs sector are still in problems, with no doubts, still considerable short of Fed goals.
Currently, AUD/USD is trading at 0.9252, up 0.05% on the day, having posted a daily high at 0.9261 and low at 0.9218. AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. Moving in an upward trend, the exponential average closing price is 0.9099.
USD/CAD levels
The AUD/USD is testing the 0.9260 key resistance, (Monthly High), ahead of 0.9259 (Weekly High) and 0.9259 (YTD High).
On the downside, next support can be found at 0.9240 (Daily Open), 0.9237 (Yesterday's Low) and 0.9224 (Hourly 100SMA). Looking at price patterns, we can see a Hammer 1-hour candlestick formation.
The Chicago PMI declined more than expected to 55.9 in March while expectations were around 58.5. It was the lowest level since September 2013. However market is digesting well the data as Janeth Yellen commented in a recent speech that economy needs more extraordinary support and that the market and jobs sector are still in problems, with no doubts, still considerable short of Fed goals.
Currently, AUD/USD is trading at 0.9252, up 0.05% on the day, having posted a daily high at 0.9261 and low at 0.9218. AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. Moving in an upward trend, the exponential average closing price is 0.9099.
USD/CAD levels
The AUD/USD is testing the 0.9260 key resistance, (Monthly High), ahead of 0.9259 (Weekly High) and 0.9259 (YTD High).
On the downside, next support can be found at 0.9240 (Daily Open), 0.9237 (Yesterday's Low) and 0.9224 (Hourly 100SMA). Looking at price patterns, we can see a Hammer 1-hour candlestick formation.