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28 Aug 2014
AUD/USD consolidates around 0.9360
FXStreet (Edinburgh) - The Aussie dollar is looking to consolidate the intraday upside, with the AUD/USD meandering around 0.9360.
AUD/USD boosted by data
The AUD gained further traction following the better-than-expected Private Capital Expenditure (CapEx) for the second quarter, growing 1.1% vs. a forecasted drop of 0.3%. In another direction New Home Sales tracked by HIA contracted 5.7% inter-month during July, down from June’s 1.2% gain. “Risk appetite fueled interest may continue to underpin the pair in the near term with 2Q capex also surprising on the upside with a +1.1% print (in contrast to market expectations for a contraction). Expect our hitherto heavy attitude towards the pair to be nullified if the 55-day MA (0.9362) is left behind on a sustained basis”, observed Emmanuel Ng, FX Strategist at OCBC Bank.
AUD/USD levels to consider
At the moment the pair is advancing 0.30% at 0.9365 facing the next hurdle at 0.9376 (high Aug.6) ahead of the psychological level at 0.9400. On the downside, a break below 0.9300 (low Aug.27) would expose 0.9272 (low Aug.26) and then 0.9235 (low Aug.21).
AUD/USD boosted by data
The AUD gained further traction following the better-than-expected Private Capital Expenditure (CapEx) for the second quarter, growing 1.1% vs. a forecasted drop of 0.3%. In another direction New Home Sales tracked by HIA contracted 5.7% inter-month during July, down from June’s 1.2% gain. “Risk appetite fueled interest may continue to underpin the pair in the near term with 2Q capex also surprising on the upside with a +1.1% print (in contrast to market expectations for a contraction). Expect our hitherto heavy attitude towards the pair to be nullified if the 55-day MA (0.9362) is left behind on a sustained basis”, observed Emmanuel Ng, FX Strategist at OCBC Bank.
AUD/USD levels to consider
At the moment the pair is advancing 0.30% at 0.9365 facing the next hurdle at 0.9376 (high Aug.6) ahead of the psychological level at 0.9400. On the downside, a break below 0.9300 (low Aug.27) would expose 0.9272 (low Aug.26) and then 0.9235 (low Aug.21).