AUD/USD pushing against 0.9270 weekly highs

FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last trading at 0.9265, near session highs, and pressing against early NY session weekly highs at 0.9271, printed on the back of USD weakness following lower than expected US housing data.

AUD/USD upside favored

According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The hourly chart shows a slightly positive tone, with indicators above their midlines and price above its 20 SMA, while in the 4 hours chart technical readings also favor the upside. A price acceleration above mentioned 0.9250 level may see a spike towards 0.9300, although selling interest has defend the level pretty well so far.”

AUD/USD key technical levels

Bednarik sees support levels at: 0.9150, 0.9110 and 0.9070, while resistance levels at: 0.9200, 0.9245 and 0.9280.