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28 Feb 2014
AUD/USD is trying to crash below 0.8950
FXStreet (Barcelona) - AUD/USD tired to restore ground and touched the intraday low at 0.8989, but the upside was not sustained and the pair quickly returned to the area of strong demand at 0.8950.
Aussie is out of luck nowadays
On Thursday Aussie touched the bespoke support level of 0.8900 amid concerns spurred by worse than expected capex data form Australia, but the bears were not ready for a decisive break down and the pair reversed most of the losses even amid growing anti-risk sentiments. As we have already mentioned, the confirmed move lower the above said support level would change the mid-term outlook for Aussie to bearish, until that time bulls still have a chance to take a revenge. Now that the key risk events of the Asian session are behind us, the dynamics of AUD/USD will be shaped by technical factors and positioning ahead of the week-end (investors may want to close risky positions to be on the safe side in case of geopolitical tensions escalate) During American hours new batch of housing market statistics may trigger some volatility. The closest support comes at 0.8950, if it is clearly broken, the pair will go right to 0.8923. While the upside might be limited by 0.8989. If this resistance is broken the pair will accelerate to 0.9000/10 with offers on approach.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8945, with support below at 0.8917, 0.8875 and 0.8847, with resistance above at 0.8987, 0.9015 and 0.9057. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.8989 and the daily 20EMA at 0.8965. Hourly RSI is neutral at 60.
Aussie is out of luck nowadays
On Thursday Aussie touched the bespoke support level of 0.8900 amid concerns spurred by worse than expected capex data form Australia, but the bears were not ready for a decisive break down and the pair reversed most of the losses even amid growing anti-risk sentiments. As we have already mentioned, the confirmed move lower the above said support level would change the mid-term outlook for Aussie to bearish, until that time bulls still have a chance to take a revenge. Now that the key risk events of the Asian session are behind us, the dynamics of AUD/USD will be shaped by technical factors and positioning ahead of the week-end (investors may want to close risky positions to be on the safe side in case of geopolitical tensions escalate) During American hours new batch of housing market statistics may trigger some volatility. The closest support comes at 0.8950, if it is clearly broken, the pair will go right to 0.8923. While the upside might be limited by 0.8989. If this resistance is broken the pair will accelerate to 0.9000/10 with offers on approach.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8945, with support below at 0.8917, 0.8875 and 0.8847, with resistance above at 0.8987, 0.9015 and 0.9057. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.8989 and the daily 20EMA at 0.8965. Hourly RSI is neutral at 60.