18 Jun 2014
AUD/USD correcting and breaking to the upside
FXStreet (Guatemala) - Currently, AUD/USD is trading at 0.9370, up 0.38% on the day, having posted a daily high at 0.9383 and low at 0.9321.
The market had been waiting for the FOMC and Fed decision this week, and with a no change to their stance, the market got a little ahead of itself and the AUD/USD has finally corrected to the upside after dropping out of the sideways channel initially. Yellen is speaking and has confirmed that she has little concern that inflation has rebounded of late. This is painting a more bearish outlook for the US dollar in the near term.
AUD/USD Levels
With spot trading at 0.9371, we can see next resistance ahead at 0.9372 (Hourly 200 SMA), 0.9379 (Hourly 100 SMA), 0.9383 (Daily High), 0.9386 (Daily Classic R1) and 0.9391 (Weekly Classic PP). Support below can be found at 0.9358 (Daily Classic PP), 0.9344 (Weekly Classic S1), 0.9342 (Hourly 20 EMA), 0.9338 (Daily 20 SMA) and (Weekly Low).
The market had been waiting for the FOMC and Fed decision this week, and with a no change to their stance, the market got a little ahead of itself and the AUD/USD has finally corrected to the upside after dropping out of the sideways channel initially. Yellen is speaking and has confirmed that she has little concern that inflation has rebounded of late. This is painting a more bearish outlook for the US dollar in the near term.
AUD/USD Levels
With spot trading at 0.9371, we can see next resistance ahead at 0.9372 (Hourly 200 SMA), 0.9379 (Hourly 100 SMA), 0.9383 (Daily High), 0.9386 (Daily Classic R1) and 0.9391 (Weekly Classic PP). Support below can be found at 0.9358 (Daily Classic PP), 0.9344 (Weekly Classic S1), 0.9342 (Hourly 20 EMA), 0.9338 (Daily 20 SMA) and (Weekly Low).