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15 Oct 2014
AUD/USD: Central bank bids stabilize latest drop
FXStreet (Bali) - AUD/USD found solid buying interest after a depressed Chinese inflation report, which saw its lowest numbers since Nov 2009.
Despite the supposedly negative input the China data represents for the Aussie, noted Asian Central Bank interest circa 0.8680 has been supporting the currency, currently being paid at the $0.87 handle.
Acording to Jim Langlands, Founder at FXCharts, on the downside, "0.8651 is now key, below which, the trend low at 0.8641 would come under pressure ahead of the July 2013 low of 0.8632; on the upside, 0.8740 will see minor sellers ahead of 0.8760 (100/200 HMA’s), beyond which would head on to 0.8800 and to yesterday’s high of 0.8811."
Despite the supposedly negative input the China data represents for the Aussie, noted Asian Central Bank interest circa 0.8680 has been supporting the currency, currently being paid at the $0.87 handle.
Acording to Jim Langlands, Founder at FXCharts, on the downside, "0.8651 is now key, below which, the trend low at 0.8641 would come under pressure ahead of the July 2013 low of 0.8632; on the upside, 0.8740 will see minor sellers ahead of 0.8760 (100/200 HMA’s), beyond which would head on to 0.8800 and to yesterday’s high of 0.8811."