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3 Jul 2014
AUD/USD overvalued by more than 3 big figures
FXStreet (Guatemala) - FXStreet (Guatemala) - AUD/USD is trading at 0.9388, down -0.66% on the day, having posted a daily high at 0.9446 and low at 0.9375 so far.
A dovish and bearish Stevens revealed his estimates that the AUD is overvalued by three cents and on the back of that, he also added that “Q1 gdp probably overstated pace of growth, outlook little below trend”. He also see’s “Conditions in housing market do not warrant higher rates” Read more here of the speech, paying particular attention to the following three sentences: Stevens says monetary policy very accommodative, but still has ammunition on rates. Stevens says AUD/USD overvalued by most measures, and by more than a few cents. Stevens says investors under-estimating risk of sharp fall in AUD/USD at some point
AUD/USD Levels
Current price is 0.9388, with resistance ahead at 0.9392 (Daily 20 SMA), 0.9407 (Weekly Low), 0.9408 (Weekly Classic PP), 0.9419 (Hourly 200SMA) and 0.9429 (Yesterday's Low). Next support to the downside can be found at 0.9379 (Daily Low), 0.9378 (Daily Classic S2), 0.9370 (Weekly Classic S1), 0.9344 (Daily Classic S3) and 0.9315 (Weekly Classic S2).
A dovish and bearish Stevens revealed his estimates that the AUD is overvalued by three cents and on the back of that, he also added that “Q1 gdp probably overstated pace of growth, outlook little below trend”. He also see’s “Conditions in housing market do not warrant higher rates” Read more here of the speech, paying particular attention to the following three sentences: Stevens says monetary policy very accommodative, but still has ammunition on rates. Stevens says AUD/USD overvalued by most measures, and by more than a few cents. Stevens says investors under-estimating risk of sharp fall in AUD/USD at some point
AUD/USD Levels
Current price is 0.9388, with resistance ahead at 0.9392 (Daily 20 SMA), 0.9407 (Weekly Low), 0.9408 (Weekly Classic PP), 0.9419 (Hourly 200SMA) and 0.9429 (Yesterday's Low). Next support to the downside can be found at 0.9379 (Daily Low), 0.9378 (Daily Classic S2), 0.9370 (Weekly Classic S1), 0.9344 (Daily Classic S3) and 0.9315 (Weekly Classic S2).