23 Mar 2015
AUD/USD: 55 DMA under pressure
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7881 with a high of 0.7875 and a low of 0.7762.
AUD/USD has been in pursuit of the mid range of the 0.78 handle and has excelled to meet the aforementioned highs. The greenback is coming with a softer tone at the start of this week and gold is up over seven bucks currently with a a $1,189.55 high.
Technically, we are being held up currently around the vicinity of the 55-day moving average at 0.7863 ahead of the February high at 0.7912 as next target for the bulls. However, while trading below the early January low at 0.8034, pressures remain to the downside within the broader rage. Should the downside play out, the two month support level at 0.7541 stands out.
AUD/USD has been in pursuit of the mid range of the 0.78 handle and has excelled to meet the aforementioned highs. The greenback is coming with a softer tone at the start of this week and gold is up over seven bucks currently with a a $1,189.55 high.
Technically, we are being held up currently around the vicinity of the 55-day moving average at 0.7863 ahead of the February high at 0.7912 as next target for the bulls. However, while trading below the early January low at 0.8034, pressures remain to the downside within the broader rage. Should the downside play out, the two month support level at 0.7541 stands out.