AUD/USD collecting bids after heavy supply

FXstreet.com (London) - AUD/USD slid
from above 0.9360 to crack the 0.9300
handle which created demand
back into 0.9320 territory.



Research teams at TD Securities noted
that the final budget outcome for fiscal year
2012/13 was a deficit of -$A18.8b,
or –1.2% of GDP, over $A500m or so better
than the pre-election budget update.



“The new Coalition government
under Tony Abbott is expected
to reveal a mid-year update
later this year, officially costing
his election promises”.



Meanwhile, from the calendar for the US,
the Michigan Consumer Sentiment
arrived at 77.5 against a consensus of 78.0.

Personal Income arrived in line
with consensus at 0.4%
and PCE numbers were all in all in line as well.



AUD/USD Levels

The 20 DMA is 0.9292, the 50 DMA is 0.9161
and the 200 DMA is 0.9836.

RSI (14) reads 36.42.
Supports are ascending from 0.9223, 0.9271 and 0.9285.

Spot is currently 0.9330 while resistances
are 0.9347, 0.9420, 0.9459, 0.9468 and 0.9503.

S3	S2	S1	R1	R2	R3
0.9312	0.9316	0.9318	0.9324	0.9328	0.9330

Trend Index	OB/OS Index
Bearish	Neutral

AUD/USD

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