25 Jun 2013
AUD/USD well supported by 0.9250, 1h EMA
FXstreet.com (Barcelona) - The AUD/USD is struggling to keep the 0.9250 handle at present, a level that as mentioned in an earlier article, will likely determine the next possible move.
20-EMA on the hourly chart provides extra support
Other than finding bids along the 0.9250 line as an interpretation of former multi-tested resistance-turned-support, the 20-day EMA converges right around the same breakout point as Tokyo enters its first hour of trading. If bids succeed to bring the rate higher, the next challenge will be at 0.93 as noted earlier, the US session high.
Base forming? minimum retracement to 0.9620 - FXWW
Sean Lee, Founder at FXWW, provided insights into who the dip buyers in last AUD/USD recovery were, saying "Asian central banks and the BIS have been the main buyers below 0.9200." Lee went on giving his take on the daily chart, stating "it remains ridiculously oversold and I expect to see a minimum retracement to .9620 and possibly .9765."
20-EMA on the hourly chart provides extra support
Other than finding bids along the 0.9250 line as an interpretation of former multi-tested resistance-turned-support, the 20-day EMA converges right around the same breakout point as Tokyo enters its first hour of trading. If bids succeed to bring the rate higher, the next challenge will be at 0.93 as noted earlier, the US session high.
Base forming? minimum retracement to 0.9620 - FXWW
Sean Lee, Founder at FXWW, provided insights into who the dip buyers in last AUD/USD recovery were, saying "Asian central banks and the BIS have been the main buyers below 0.9200." Lee went on giving his take on the daily chart, stating "it remains ridiculously oversold and I expect to see a minimum retracement to .9620 and possibly .9765."