FX News – Jan 14 2014: AUD, JPY, NZD Perform Well VS USD

FX Strategy Articles > FX Trading Tips

The AUD/USD pair closed on a strong note for the first time in a month during yesterday's session. The pair, which peaked at 0.9086 during yesterday's session was able to close above the 0.9000 zone, a level not seen since mid-December 2013.

While it opened slightly weaker during today's Asian session at 0.9055, the pair might be able to sustain that level at least through this week due to the lack of significant US data. Much of its performance could still be traced to the dismal US Nonfarm Payrolls (NFP) figures posted on Friday last week.

The AUD/USD pair is currently trading at 0.9052, with initial resistance seen at 0.9067, followed by 0.9090. Meanwhile, initial support is at 0.8936, followed 0.8913.

The greenback also lost against the yen during yesterday's session, as the pair dropped by over 100 pips. The USD/JPY finished the day at around the 103.00 zone.

As with the AUD/USD, the weakness of the USD/JPY pair yesterday was due to the poor NFP data, along with falling stocks.

The pair opened on a slightly stronger note at 103.69. It is currently making a slow climb, but remains around the 103.00 area. The pair is trading at 103.07 at the moment with initial resistance seen at 104.72, followed by 104.98. Meanwhile, initial support is at 103.19, followed by 102.93.

The NZD/USD tested the 0.8390 level yesterday but was unable to sustain it as it ended the session below the 0.8380 zone. Despite that, however, the kiwi was able to sustain its strength against the greenback in yesterday's session as well as during the opening of today's Asian session.

The NZD/USD opened at 0.8377 today, with initial resistance seen at 0.8356, followed by 0.8377. Meanwhile, initial support is at 0.8253, followed by 0.8232.

By FX Strategy Team, Published on 13th of January 2014
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