Back
9 Sep 2014
AUD/USD sees 15 pips down-move on NAB data
FXStreet (Bali) - AUD/USD saw a 15 pips move down to 0.9273 before recovering 0.9280 following a weaker-than-previous NAB Australian business data, which overall, continues to show an uptrend.
NAB notes: "Business confidence remains resilient despite easing a little in August,supported by positive forward orders, subdued cost pressures and more stable consumer confidence. Positive business conditions are also helping despite falling back in the month. Confidence varies significantly across industries, with construction firms the most optimistic by a large margin."
Jim Langlands, Founder at FXCharts, notes: "The 4 hour charts certainly look as though there could be more losses in store although there is some decent support nearby, with the base of the channel lying right here, at 0.9270. Under there, strong support lies in the 0.9240/60 area and I would be a little doubtful of heading under there today."
NAB notes: "Business confidence remains resilient despite easing a little in August,supported by positive forward orders, subdued cost pressures and more stable consumer confidence. Positive business conditions are also helping despite falling back in the month. Confidence varies significantly across industries, with construction firms the most optimistic by a large margin."
Jim Langlands, Founder at FXCharts, notes: "The 4 hour charts certainly look as though there could be more losses in store although there is some decent support nearby, with the base of the channel lying right here, at 0.9270. Under there, strong support lies in the 0.9240/60 area and I would be a little doubtful of heading under there today."