24 Apr 2014
AUD/USD is at the crossroads right below 0.9300 resistance
FXStreet (Moscow) - AUD/USD touched 0.9300 resistance but retraced to current levels of 0.9290; the pair has stuck in a narrow range as traders are hesitant
Aussie bulls don’t give up
AUD/USD is trying to claw back yesterday’s losses caused by unexpectedly weak inflation numbers. The Australian calendar is empty today, so the traders have time to revise their RBA monetary policy expectations and adjust economy forecasts. From the technical point of view the Aussie desperately needs to get back above 0.9300/20 to have another chance for growth. Weaker that expected US economic statistics (namely, Durable Goods Orders and Initial jobless claims) might push the Australian currency higher on the back of general USD sell-off, but it is questionable if this upside will be sustained. The first support is seen at yesterday’s low of 0.9267, while the resistance is at 0.9290/00
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9312, with support below at 0.9253, 0.9299 and 0.9232, with resistance above at 0.9353, 0.9425 and 0.9471. Hourly Moving Averages are neutral, with the 200SMA at 0.9324 and the daily 20EMA is bullish at 0.9300. Hourly RSI is bullish at 53.
Aussie bulls don’t give up
AUD/USD is trying to claw back yesterday’s losses caused by unexpectedly weak inflation numbers. The Australian calendar is empty today, so the traders have time to revise their RBA monetary policy expectations and adjust economy forecasts. From the technical point of view the Aussie desperately needs to get back above 0.9300/20 to have another chance for growth. Weaker that expected US economic statistics (namely, Durable Goods Orders and Initial jobless claims) might push the Australian currency higher on the back of general USD sell-off, but it is questionable if this upside will be sustained. The first support is seen at yesterday’s low of 0.9267, while the resistance is at 0.9290/00
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9312, with support below at 0.9253, 0.9299 and 0.9232, with resistance above at 0.9353, 0.9425 and 0.9471. Hourly Moving Averages are neutral, with the 200SMA at 0.9324 and the daily 20EMA is bullish at 0.9300. Hourly RSI is bullish at 53.