9 Jul 2014
AUD/USD losing grip of 0.94 handle
FXStreet (Guatemala) - AUD/USD is trading at 0.9398, down -0.01% on the day, having posted a daily high at 0.9418 and low at 0.9389.
AUD/USD is losing grip of the 0.94 handle within an overall consolidation of the recent bull run. The Market Strategy Team at UOB Group noted that the short term AUD strength has likely part of a counter-trend rally. “As long as 0.9445 is intact, we believe that AUD will eventually move lower towards 0.9320 by end of this week or early next week."
AUD/USD Levels
Spot is presently trading at 0.9398, and next resistance can be seen at 0.9400 (Daily Open), 0.9401 (Weekly Classic PP), 0.9404 (Hourly 200 SMA), 0.9416 (Yesterday's High) and 0.9418 (Daily High). Next support to the downside can be found at 0.9398 (Hourly 20 EMA), 0.9393 (Daily Classic PP), 0.9389 (Daily 20 SMA), (Daily Low) and 0.9374 (Hourly 100 SMA).
AUD/USD is losing grip of the 0.94 handle within an overall consolidation of the recent bull run. The Market Strategy Team at UOB Group noted that the short term AUD strength has likely part of a counter-trend rally. “As long as 0.9445 is intact, we believe that AUD will eventually move lower towards 0.9320 by end of this week or early next week."
AUD/USD Levels
Spot is presently trading at 0.9398, and next resistance can be seen at 0.9400 (Daily Open), 0.9401 (Weekly Classic PP), 0.9404 (Hourly 200 SMA), 0.9416 (Yesterday's High) and 0.9418 (Daily High). Next support to the downside can be found at 0.9398 (Hourly 20 EMA), 0.9393 (Daily Classic PP), 0.9389 (Daily 20 SMA), (Daily Low) and 0.9374 (Hourly 100 SMA).