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1 Nov 2013
AUD/USD toggling the flat line after several sharp swings and Aussie data
FXstreet.com (Barcelona) - AUD/USD traders are having a tough time making up their mind in terms of direction based on the several sharp moves that have occurred before and after the Aussie Performance of Manufacturing data.
AUD/USD traders to react to Aussie, Chinese and US data Friday
Now that the first bit of Aussie data has been released and digested by traders Friday, the AUD/USD crowd will be eyeing multiple data points from around the globe including: Aussie PPI; Chinese PMI; Aussie Commodity Prices; several Fed Head speeches during US hours; and, US ISM Manufacturing PMI.
Technical outlook for AUD/USD
Technicians note that the AUD/USD broke one support at 0.9512 and is not too far away from the next support at Wednesday’s low at 0.9440. Additional support comes from the Fibonacci retracement line at 0.9389. Resistance for the cross comes in at Wednesday’s peak at 0.9515 and is backed up by last Thursday’s peak at 0.9670 and Monday’s peak of 0.9756.
AUD/USD traders to react to Aussie, Chinese and US data Friday
Now that the first bit of Aussie data has been released and digested by traders Friday, the AUD/USD crowd will be eyeing multiple data points from around the globe including: Aussie PPI; Chinese PMI; Aussie Commodity Prices; several Fed Head speeches during US hours; and, US ISM Manufacturing PMI.
Technical outlook for AUD/USD
Technicians note that the AUD/USD broke one support at 0.9512 and is not too far away from the next support at Wednesday’s low at 0.9440. Additional support comes from the Fibonacci retracement line at 0.9389. Resistance for the cross comes in at Wednesday’s peak at 0.9515 and is backed up by last Thursday’s peak at 0.9670 and Monday’s peak of 0.9756.