AUD/USD: risk driven, below $0.9400
AUD/USD is trapped in the $0.9400/9370 area today. Demand for higher yielding currencies declined amid concerns that a partial shutdown of the US government will hamper global economic growth. On the other hand, there’s a sense of releaf about China: Chinese services-industry index rose to a 6-month high, while HSBC raised China’s 2013 growth forecast. Still, analysts at Standard Chartered believe that risk sentiment factors and news from US will be the main drivers of AUD in the near term.
Resistance is at $0.9410, $0.9435, $0.9455. Support is at $0.9370, $0.9333, $0.9300.
Chart. H4 AUD/USD