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28 Aug 2014
AUD/USD spikes up to test bears stomping ground
FXStreet (Guatemala) - AUD/USD is trading at 0.9358, up 0.23% on the day, having posted a daily high at 0.9374 and low at 0.9332.
AUD/USD remains robust and tests out the bears ground on the mid point of the 0.93 handle. Australia’s newly built home sales dropped 5.7% from +1.2% prior and the Private capital expenditure (Q2) in Australian came at +1.1% vs -0.3% expected. However, Sean Callow, analyst at Westpac Banking Corporation ABN AUD resilience increasingly hints at flows stemming from anticipation of ECB QE, with sovereign bonds in demand around the world, making Australia’s 3.30% 10 year bond yield more tempting.
AUD/USD support resistance levels
Support levels: 0.9330 0.9300 0.9260
Resistance levels: 0.9370 0.9410 0.9450
AUD/USD remains robust and tests out the bears ground on the mid point of the 0.93 handle. Australia’s newly built home sales dropped 5.7% from +1.2% prior and the Private capital expenditure (Q2) in Australian came at +1.1% vs -0.3% expected. However, Sean Callow, analyst at Westpac Banking Corporation ABN AUD resilience increasingly hints at flows stemming from anticipation of ECB QE, with sovereign bonds in demand around the world, making Australia’s 3.30% 10 year bond yield more tempting.
AUD/USD support resistance levels
Support levels: 0.9330 0.9300 0.9260
Resistance levels: 0.9370 0.9410 0.9450