29 May 2014
AUD/USD is getting ready for a new assault at 0.9280
FXStreet (Moscow) - strong offers on approach to 0.9280 caped the AUD/USD upside and pushed the pair to current levels of 0.9274, but bulls are dead set on going higher.
Aussie bulls are back in the game
AUD/USD made another failed attempt to go below the May low at 0.9203. The pair plunged to current Asian low of 0.9310 on the back of disappointing Australian Private Capex headline numbers, but then staged an impressive comeback as investors felt encouraged by improved capex expectations for 2014/15. Aussie reversed all Wednesday’s losses and poked the area of strong offers at 0.9280. A sustained break above this level will open the way to the bespoke resistance of 0.9300 the is likely to limit the intraday gains.
What price levels and patterns have to be considered?
Spot is presently trading at 0.9276, and next resistance can be seen at 0.9285 (Daily 20 SMA), 0.9289 (Daily High), 0.9300 (Daily Classic R2), 0.9327 (Daily Classic R3) and 0.9336 (Weekly Classic R1).
Support below can be found at 0.9273 (Yesterday's High), 0.9272 (Weekly Classic PP), 0.9268 (Daily Classic R1), 0.9262 (Hourly 200 SMA) and 0.9259 (Weekly High).
Regarding candlestick formations, we can see Doji formation on the 4-hour .
Aussie bulls are back in the game
AUD/USD made another failed attempt to go below the May low at 0.9203. The pair plunged to current Asian low of 0.9310 on the back of disappointing Australian Private Capex headline numbers, but then staged an impressive comeback as investors felt encouraged by improved capex expectations for 2014/15. Aussie reversed all Wednesday’s losses and poked the area of strong offers at 0.9280. A sustained break above this level will open the way to the bespoke resistance of 0.9300 the is likely to limit the intraday gains.
What price levels and patterns have to be considered?
Spot is presently trading at 0.9276, and next resistance can be seen at 0.9285 (Daily 20 SMA), 0.9289 (Daily High), 0.9300 (Daily Classic R2), 0.9327 (Daily Classic R3) and 0.9336 (Weekly Classic R1).
Support below can be found at 0.9273 (Yesterday's High), 0.9272 (Weekly Classic PP), 0.9268 (Daily Classic R1), 0.9262 (Hourly 200 SMA) and 0.9259 (Weekly High).
Regarding candlestick formations, we can see Doji formation on the 4-hour .