Back
15 May 2014
AUD/USD a bit heavy after 0.94 failure
FXStreet (Bali) - AUD/USD opens the Tokyo session at 0.9370, over 10 pips lower than its NY closing level, after multiple topside failures to overcome sticky resistance at 0.94.
The Australian data does not offer any event to stimuate the pair, with Consumer Inflation Expectation (Apr), New Motor Vehicle Sales (MoM) (Apr) and RBA Foreign Exchange Transaction (Apr), unlikely to produce much volatility in the Aussie. According to Jim Langlands, Founder at FXCharts, "the Aud looks more likely to be pushed around by the action going on in the crosses."
Jim adds that "another day of roughly the same sort of price action would not surprise, and the mildly negative look of the 4 hour charts once again suggests that the upside may be a bit limited beyond 0.9400 in the coming session, should it reach that high."
The Australian data does not offer any event to stimuate the pair, with Consumer Inflation Expectation (Apr), New Motor Vehicle Sales (MoM) (Apr) and RBA Foreign Exchange Transaction (Apr), unlikely to produce much volatility in the Aussie. According to Jim Langlands, Founder at FXCharts, "the Aud looks more likely to be pushed around by the action going on in the crosses."
Jim adds that "another day of roughly the same sort of price action would not surprise, and the mildly negative look of the 4 hour charts once again suggests that the upside may be a bit limited beyond 0.9400 in the coming session, should it reach that high."