16 Jun 2014
AUD/USD don't want to leave cozy 0.9400 pivot
FXStreet (Moscow) - AUD/USD is dancing around 0.9400 pivot in Asia, as investors are contemplating the downside correction after a strong rally during previous week
Time to come down?
AUD/USD lived through the third positive week in a row. The pair broke above May’s high and set new maximum at 0.9437, though the gains were not sustainable as it retreated to 0.9400 by the end of Friday. Thus, AUD/USD has settled at the top of its recent channel. If the bulls do not find new motives for growth, the Aussie may start the downside correction. From the fundamental point of view, there is nothing that might serve as a trigger, while the nearest event of interest is the RBA minutes of June meeting on Tuesday as they may reveal more info about the central bank’s plans and attitudes towards strong Aussie.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9402, with support below at 0.9374, 0.9347 and 0.9319, with resistance above at 0.9429, 0.9457 and 0.9484. Hourly Moving Averages are mixed with the 200SMA at 0.9348 and the daily 20EMA at 0.9331. Hourly RSI is bearish at 45.
Time to come down?
AUD/USD lived through the third positive week in a row. The pair broke above May’s high and set new maximum at 0.9437, though the gains were not sustainable as it retreated to 0.9400 by the end of Friday. Thus, AUD/USD has settled at the top of its recent channel. If the bulls do not find new motives for growth, the Aussie may start the downside correction. From the fundamental point of view, there is nothing that might serve as a trigger, while the nearest event of interest is the RBA minutes of June meeting on Tuesday as they may reveal more info about the central bank’s plans and attitudes towards strong Aussie.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9402, with support below at 0.9374, 0.9347 and 0.9319, with resistance above at 0.9429, 0.9457 and 0.9484. Hourly Moving Averages are mixed with the 200SMA at 0.9348 and the daily 20EMA at 0.9331. Hourly RSI is bearish at 45.