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13 Mar 2014
AUD/USD eases to 0.9050
FXStreet (Edinburgh) - After advancing to the area of 0.9090 overnight, the AUD/USD is now retreating to the 0.9055/50 region.
AUD/USD boosted by jobs data
The big upside surprise from the labour market in Oz catapulted the pair to fresh weekly highs near 0.9090: the employment increased by 47.3K in February, leaving far behind the 18K expected and January’s 18K (revised from -3.7K), while the jobless rate remained at 6%. The interest rate hike by the RBNZ (25bp) has also supported the bullish momentum in the region. “Going forward, data needs to continue improving in order to maintain the AUD at current levels. We think 92 cents represents the top of the range for the AUD/USD given that the external environment is unlikely to become particularly supportive any time soon”, commented Daniel Been, Strategist at ANZ.
AUD/USD key levels
The pair is now up 0.77% at 0.9057 with the next resistance at 0.9135 (high Mar.7) ahead of 0.9152 (high Dec.11) and then 0.9155 (200-d MA). On the flip side, a breakdown of 0.8930 (50-d MA) would expose 0.8923 (low Mar.12) and finally 0.8909 (low Mar.4).
AUD/USD boosted by jobs data
The big upside surprise from the labour market in Oz catapulted the pair to fresh weekly highs near 0.9090: the employment increased by 47.3K in February, leaving far behind the 18K expected and January’s 18K (revised from -3.7K), while the jobless rate remained at 6%. The interest rate hike by the RBNZ (25bp) has also supported the bullish momentum in the region. “Going forward, data needs to continue improving in order to maintain the AUD at current levels. We think 92 cents represents the top of the range for the AUD/USD given that the external environment is unlikely to become particularly supportive any time soon”, commented Daniel Been, Strategist at ANZ.
AUD/USD key levels
The pair is now up 0.77% at 0.9057 with the next resistance at 0.9135 (high Mar.7) ahead of 0.9152 (high Dec.11) and then 0.9155 (200-d MA). On the flip side, a breakdown of 0.8930 (50-d MA) would expose 0.8923 (low Mar.12) and finally 0.8909 (low Mar.4).