Market Cap:
$241B
BTC Dominance:
65.67%
btc:
$8,757.04
eth:
$187.47
xrp:
$0.27
Advertise
Forex

10 Oct 2014 AUD/USD Analysis

10 Oct 2014 AUD/USD Analysis

dollar, AUD, Australian Dollar, AUD/USD outlook, AUD/USD technical analysis, AUDUSD technical analysis, AUD/USD Forecast, Aussie Dollar, Reserve Bank of Australia, AUDUSD analysis, AUDUSD outlook, AUDUSD technical analysis,  AUD/USD analysis, AUDUSD outlook, Glenn Stevens, RBA, U.S Dollar, USD AUD/USD scraped the ceiling at 0.89 which was last seen on 23 Sept before profit taking and USD strength saw it return to support of 8 Oct

dollar, AUD, Australian Dollar, AUD/USD outlook, AUD/USD technical analysis, AUDUSD technical analysis, AUD/USD Forecast, Aussie Dollar, Reserve Bank of Australia, AUDUSD analysis, AUDUSD outlook, AUDUSD technical analysis,  AUD/USD analysis, AUDUSD outlook, Glenn Stevens, RBA, U.S Dollar, USD Supported by 0.874 we will start to observe a higher lows – higher highs formation

dollar, AUD, Australian Dollar, AUD/USD outlook, AUD/USD technical analysis, AUDUSD technical analysis, AUD/USD Forecast, Aussie Dollar, Reserve Bank of Australia, AUDUSD analysis, AUDUSD outlook, AUDUSD technical analysis,  AUD/USD analysis, AUDUSD outlook, Glenn Stevens, RBA, U.S Dollar, USD A third time retest of 0.874 this week could send the pair higher, with resistance at 0.885 and 0.89 next. Falling below we will see this year’s low retest at 0.865

Australian dollar’s gain was limited towards 0.89 as it quickly became overbought as the sentiment for the Aussie dollar remains bearish due to the RBA’s evaluation. Support at 0.874 yet again for the third time this week will see challenge towards 0.885 – 0.89 again as the trading week comes to a close.

Home loans month on month fell by 0.9%, doing little to affect the currency, so did the employment changes figures which was lower than estimated. The jobs creation figures reported yesterday were adjudged to be too volatile and discarded as reference as the Australian Bureau of Statistics blamed the lack of understanding in some job sectors, budget cuts and lack of survey procedure could have contributed to inaccurate data. The ABS is still currently without a Chief Statistician as labour unions are warning that this and other budget cuts might affect the reputation of the agency.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight Bullish0.86590.870.8740.880.8850.89

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.