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19 Aug 2013
AUD/USD finds support at 0.9100
FXstreet.com (San Francisco) - After collapsing around 130 pips from 0.9230 in the European session, the AUD/USD has finally found support at 0.9100 where the pair has bounced to trade around 0.9125.
Currently, the AUD/USD is trading at 0.9120, 0.73% negative on the day. The short term perspective remains slightly bearish in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
Below the 0.9100 area, next supports are at 0.9075, 0.9060 and 0.9000. On the upside, the AUD/USD would face resistances at 0.9135, 0.9220 and 0.9290.
AUD/USD bias
The AUD/USD's picture "is quite bearish in the short term, with price again pulling back strongly from the 0.9200 area,” comments Valeria Bednarik, chief analyst at FXstreet.com. “Hourly chart shows indicators in negative territory, while in the 4 hours chart technical readings are giving shy selling signs".
Currently, the AUD/USD is trading at 0.9120, 0.73% negative on the day. The short term perspective remains slightly bearish in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
Below the 0.9100 area, next supports are at 0.9075, 0.9060 and 0.9000. On the upside, the AUD/USD would face resistances at 0.9135, 0.9220 and 0.9290.
AUD/USD bias
The AUD/USD's picture "is quite bearish in the short term, with price again pulling back strongly from the 0.9200 area,” comments Valeria Bednarik, chief analyst at FXstreet.com. “Hourly chart shows indicators in negative territory, while in the 4 hours chart technical readings are giving shy selling signs".