FOREX News For Today
Australian dollar can be attributed to the normal deviation of a normal day. Australian dollar finished the Asian trading almost unchanged, although the beginning of the session of the Reserve Bank of Australia comments provoked its growth, which further weakened and gave way to decline. Next pair reached strong levels of support, from which then recovered slightly by the end of the day. On the day the fair price protection zones are located in areas VAL -0.9010 and VAH -0.9046. Control point POC was formed in 0.9035.
From a practical perspective, that document has already reveled the new strategy being adopted by Mark Carney and company, limiting the Minutes’ market-moving potential. With that in mind, follow-through on any near-term volatility borne of subtle nuances in officials’ rhetoric may prove limited. January’s UK Jobless Claims data is likewise on tap, with a 20,000 decline expected.
Forecast for Today
During today's Asian session, the Australian dollar continued to weaken against the U.S. dollar on the back of weak fundamental data. The first resistance level for the AUD/USD now is the level of VAL from February 17 -0.9022 from which the couple may have to return to the test more than usual VAH from February 17 -0.9052 and POC on December 6, 2013 -0.9068. Securing above these levels can lead to the formation of a new upward trend in the area of 9 December VAL -0.9085, and then to the POC from December 11 -0.9107. The farthest goal is still the region POC from December 10 -0.9125.
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