AUD/USD pressured to the downside post key events Fri, May 09 2014, 01:42 GMT | FXStreet

FXStreet (Guatemala) - AUD/USD is trading at 0.9359, down -0.17% on the day, having posted a daily high at 0.9378 and low at 0.9347.

AUD/USD is being pressured to the downside with the China CPI’s and PPI’s missing expectations. Also, the RBA released their quarterly statement and explained that rates are going to be appropriate for the current outlook and the underlying inflation seen at 2.75 mid 2014, 2.5% end of year, 2-3%.

AUD/USD Levels

Current price is 0.9360, with resistance ahead at 0.9363 (Daily Classic PP), 0.9370 (Hourly 20 EMA), 0.9375 (Daily Open), 0.9375 (Weekly High) and 0.9378 (Daily High). Next support to the downside can be found at 0.9347 (Daily Low), 0.9330 (Weekly Classic R1), 0.9329 (Daily Classic S1), 0.9326 (Hourly 100 SMA) and 0.9318 (Yesterday's Low).

AUD/USD chart formations

Looking at price patterns, we can see a Doji 4-hour candlestick formation.
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