4 Mar 2014
AUD/USD remains capped by 0.8970
FXStreet (Córdoba) - The AUD/USD resumed the upside during the European session but despite better risk sentiment, it stalled at the 0.8965/70 area for second time today.
The AUD/USD reached a daily high of 0.8967 after the RBA decided to keep monetary policy unchanged and the interest rate at 2.5% but failed to overcome that level and fell all the way back to 0.8909 before resuming the rise. The AUD/USD managed to climb back toward highs most recently, but the 0.8965/70 zone proved to be a tough resistance.
AUD/USD technical levels
At time of writing, the AUD/USD is trading at the 0.8950 zone, still up 0.2% on the day. If the AUD/USD breaks above 0.8970, next resistances could be found at 0.8980 (21-day SMA), 0.9000 (psychological level) and 0.9025 (Feb 26 high). On the flip side, supports are seen at 0.8910/09 (50-day SMA/Mar 4 low) and 0.8890 (Mar 3 low).
The AUD/USD reached a daily high of 0.8967 after the RBA decided to keep monetary policy unchanged and the interest rate at 2.5% but failed to overcome that level and fell all the way back to 0.8909 before resuming the rise. The AUD/USD managed to climb back toward highs most recently, but the 0.8965/70 zone proved to be a tough resistance.
AUD/USD technical levels
At time of writing, the AUD/USD is trading at the 0.8950 zone, still up 0.2% on the day. If the AUD/USD breaks above 0.8970, next resistances could be found at 0.8980 (21-day SMA), 0.9000 (psychological level) and 0.9025 (Feb 26 high). On the flip side, supports are seen at 0.8910/09 (50-day SMA/Mar 4 low) and 0.8890 (Mar 3 low).