7 Feb 2014
AUD/USD flat but still rises 2% in week
FXStreet (Córdoba) - The AUD/USD failed to sustain gains and pulled back during the American afternoon as the greenback recovered ground after the initial nonfarm payrolls shock.
The AUD/USD retreated from a 3-week high of 0.8997 but it found support at the 0.8940 zone and bounced slightly. At time of writing, the AUD/USD is trading at the 0.8965 zone, little changed since opening, although on track to post a 2.3% weekly gain, underpinned by RBA shift of stance from dovish to neutral.
AUD/USD levels to watch
As for technical levels, the AUD/USD could find immediate resistances at 0.9000 (psychological level) and 0.9057 (Jan 14 high). On the downside, supports are seen at 0.8920 (50-day SMA), 0.8908 (Feb 6 low) and 0.8873 (Feb 5 low).
The AUD/USD retreated from a 3-week high of 0.8997 but it found support at the 0.8940 zone and bounced slightly. At time of writing, the AUD/USD is trading at the 0.8965 zone, little changed since opening, although on track to post a 2.3% weekly gain, underpinned by RBA shift of stance from dovish to neutral.
AUD/USD levels to watch
As for technical levels, the AUD/USD could find immediate resistances at 0.9000 (psychological level) and 0.9057 (Jan 14 high). On the downside, supports are seen at 0.8920 (50-day SMA), 0.8908 (Feb 6 low) and 0.8873 (Feb 5 low).