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7 Mar 2014
AUD/USD steady on RBA's Stevens
FXStreet (Guatemala) - RBA’s Stevens is in the House of Representatives delivering his twice yearly assessment on the economy. So far there haven’t been any surprises from the speech released. We will look to the Q’s and A’s.
AUD/USD is oscillating in a 10 pip range. What we have been given so far is as follows: Further decline in Australia Terms of Trade, Inflation outlook a little higher than before, Outlook contains many uncertainties, Q4 GDP data does not change view of growth below trend, Decline in mining investment to accelerate, Consumers unlikely to drive growth like before crisis, Non-mining investment is bound to pick up at some stage and Exchange rate high by historical standard.
AUD/USD Levels
The 20 DMA is 0.8988, the 50 DMA is 0.8912 and the 200 DMA is 0.9173. RSI (14) reads 70.41. Supports are ascending from 0.8933, 0.8960, 0.8969, 0.8999
and 0.9050. Spot is 0.9081 while resistances are 0.9100 and 0.9125.
AUD/USD is oscillating in a 10 pip range. What we have been given so far is as follows: Further decline in Australia Terms of Trade, Inflation outlook a little higher than before, Outlook contains many uncertainties, Q4 GDP data does not change view of growth below trend, Decline in mining investment to accelerate, Consumers unlikely to drive growth like before crisis, Non-mining investment is bound to pick up at some stage and Exchange rate high by historical standard.
AUD/USD Levels
The 20 DMA is 0.8988, the 50 DMA is 0.8912 and the 200 DMA is 0.9173. RSI (14) reads 70.41. Supports are ascending from 0.8933, 0.8960, 0.8969, 0.8999
and 0.9050. Spot is 0.9081 while resistances are 0.9100 and 0.9125.