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4 Mar 2014
AUD/USD on the bid ahead of RBA
FXStreet (Guatemala) - AUD/USD scored a high of 0.8957 after the posting of upbeat economic data that beat expectations in the form of building permits ahead of the RBA meeting.
Year on year read as 34.6% vs 24.0% and month on month came in as 6.8% vs 2.0%. At the same time we got the Current Account Balance in at -10.1B against expected -10.0B and previous -12.7B. The RBA meeting is due (2:30pmSyd/11:30am Sing/HK). The market is expecting a neutral theme. On a separate issue, Sean Callow, analyst at Westpac Banking Corporation ABN noted ,“There will be extra eyes on the Ukraine around 2pm Syd/11am Sing/HK as this is the 5am deadline Ukrainian officials claimed had been given by the Russian navy to Ukrainian forces in the Crimea to surrender. This claim is disputed.
AUD/USD Levels
The 20 DMA is 0.8974, the 50 DMA is 0.8911 and the 200 DMA is 0.9183. RSI (14) reads 64.32. Supports are 0.8730, 0.8770, 0.8821, 0.8873. Spot is 0.8951 while resistances are 0.8939, 0.8975,0.8990 and 0.9026.
Year on year read as 34.6% vs 24.0% and month on month came in as 6.8% vs 2.0%. At the same time we got the Current Account Balance in at -10.1B against expected -10.0B and previous -12.7B. The RBA meeting is due (2:30pmSyd/11:30am Sing/HK). The market is expecting a neutral theme. On a separate issue, Sean Callow, analyst at Westpac Banking Corporation ABN noted ,“There will be extra eyes on the Ukraine around 2pm Syd/11am Sing/HK as this is the 5am deadline Ukrainian officials claimed had been given by the Russian navy to Ukrainian forces in the Crimea to surrender. This claim is disputed.
AUD/USD Levels
The 20 DMA is 0.8974, the 50 DMA is 0.8911 and the 200 DMA is 0.9183. RSI (14) reads 64.32. Supports are 0.8730, 0.8770, 0.8821, 0.8873. Spot is 0.8951 while resistances are 0.8939, 0.8975,0.8990 and 0.9026.