26 May 2014
AUD/USD in a tight range around 0.9240
FXStreet (Edinburgh) - The Aussie dollar is navigating within a very narrow range at the beginning of the week, with the AUD/USD meandering around the 0.9240 level.
AUD/USD supported around 0.9220
It seems the pair found consolidation around the 0.9220 region after the correction lower from May peaks in the vicinity of 0.9420. There are no data releases in Oz today, with thin trade and scarce volatility prevailing amidst holidays in the UK and the US. “AUD is likely still in a consolidation phase. Neutral readings suggest further sideway trading for now, likely between 0.9210 and 0.9260”, observes Quek Ser Leang , Market Strategist at UOB Group.
AUD/USD key levels
The pair is now advancing 0.10% at 0.9240 with the next resistance at 0.9274 (high May 22) followed by 0.9280 (50-d MA) and finally 0.9336 (high May 20). On the flip side, a breakdown of 0.9208 (low May 21) would open the door to 0.9172 (200-d MA) and then 0.9155 (low Mar.26).
AUD/USD supported around 0.9220
It seems the pair found consolidation around the 0.9220 region after the correction lower from May peaks in the vicinity of 0.9420. There are no data releases in Oz today, with thin trade and scarce volatility prevailing amidst holidays in the UK and the US. “AUD is likely still in a consolidation phase. Neutral readings suggest further sideway trading for now, likely between 0.9210 and 0.9260”, observes Quek Ser Leang , Market Strategist at UOB Group.
AUD/USD key levels
The pair is now advancing 0.10% at 0.9240 with the next resistance at 0.9274 (high May 22) followed by 0.9280 (50-d MA) and finally 0.9336 (high May 20). On the flip side, a breakdown of 0.9208 (low May 21) would open the door to 0.9172 (200-d MA) and then 0.9155 (low Mar.26).