16 Jun 2014
AUD/USD struggling to hold above 0.9400
FXStreet (Córdoba) - The AUD/USD managed to regain the 0.9400 level Monday following a correction from 2-month highs last Friday.
The Australian dollar remains firm despite the cautious tone in financial markets amid escalating tensions in Iraq. The AUD/USD reached a daily high of 0.9415, before easing slightly. At time of writing, the pair is trading at 0.9405, just a few pips higher on the day.
Tomorrow the RBA will release its last meeting’s minutes, but it is not expected to surprise. Ahead of the minutes, Reserve Bank of Australia Assistant Governor Christopher Kent said during a speech, the latest forecast are for employment growth to pick up gradually over the next two years, but the unemployment rate will remain elevated during that period. The Aussie ignored Kent’s dovish comments.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could find next resistance level at 0.9426 (Jun 16 high), 0.9436 (Jun 11 high) and 0.9460 (Apr 10 high). On the other hand, supports are seen at 0.9374 (Jun 13 low), 0.9350 (Jun 12 low) and 0.9318 (Jun 6 low).
The Australian dollar remains firm despite the cautious tone in financial markets amid escalating tensions in Iraq. The AUD/USD reached a daily high of 0.9415, before easing slightly. At time of writing, the pair is trading at 0.9405, just a few pips higher on the day.
Tomorrow the RBA will release its last meeting’s minutes, but it is not expected to surprise. Ahead of the minutes, Reserve Bank of Australia Assistant Governor Christopher Kent said during a speech, the latest forecast are for employment growth to pick up gradually over the next two years, but the unemployment rate will remain elevated during that period. The Aussie ignored Kent’s dovish comments.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could find next resistance level at 0.9426 (Jun 16 high), 0.9436 (Jun 11 high) and 0.9460 (Apr 10 high). On the other hand, supports are seen at 0.9374 (Jun 13 low), 0.9350 (Jun 12 low) and 0.9318 (Jun 6 low).