18 Jul 2014
AUD/USD remains capped by 0.9390
FXStreet (Córdoba) - The recovery of the AUD/USD faltered once again at the 0.9390 area Friday, confining the pair to a phase of consolidation over the last hours.
The AUD/USD rose more than half a cent from daily lows despite the prevailing risk-off tone, but lacked momentum to break above the 0.9390 zone for a second day in a row, where the 14-day SMA is reinforcing static resistance. The AUD/USD has been consolidating in a range since early European session, currently trading at 0.9380, up 0.32% on the day.
However, mounting geopolitical tensions, after a missile hit a commercial flight in Ukraine conflict area and Israel launched a ground offensive in Gaza, could maintain risky assets under pressure.
AUD/USD technical levels
As for technical levels, if the Aussie dows break above 0.9390, next resistances could be found at 0.9400 (psychological level) and 0.9423 (Jul 9 high). On the other hand, supports are seen at 0.9328 (Jul 16 & 3 lows) and 0.9320 (Jun 18 low) and 0.9300 (psychological level).
The AUD/USD rose more than half a cent from daily lows despite the prevailing risk-off tone, but lacked momentum to break above the 0.9390 zone for a second day in a row, where the 14-day SMA is reinforcing static resistance. The AUD/USD has been consolidating in a range since early European session, currently trading at 0.9380, up 0.32% on the day.
However, mounting geopolitical tensions, after a missile hit a commercial flight in Ukraine conflict area and Israel launched a ground offensive in Gaza, could maintain risky assets under pressure.
AUD/USD technical levels
As for technical levels, if the Aussie dows break above 0.9390, next resistances could be found at 0.9400 (psychological level) and 0.9423 (Jul 9 high). On the other hand, supports are seen at 0.9328 (Jul 16 & 3 lows) and 0.9320 (Jun 18 low) and 0.9300 (psychological level).