18 Feb 2014
AUD/USD paused to take a breath after testing 0.9080
FXStreet (Moscow) - AUD/USD bumped at strong resistance at 0.9080 and retraced lower to 0.9060-70 range, but the bulls do not want to give up easily as the upside bias is still dominant.
Aussie bulls still worship the RBA
AUD/USD failed to go through 0.9050-60 resistance zone and retraced back to 0.9025 during a quiet trading day on Monday. Despite a big black candle on the daily chart the AUD/USD retains the bullish bias as long as 0.9000 is unbroken. RBA published the minutes of its latest meeting earlier today, the policy makers said that further signs easy policy and a weak currency were having an impact. Nothing new really, but the markets liked it as the Aussie spiked to 0.9080, but soon retraced to 0.9067. Now that the key risk event for the Aussie is behind us, the AUD/USD may spend the rest а Asian session and the European session consolidation gains and getting ready for the bunch of US economic numbers. As long as 0.9030 support is intact, the pair is in bullish mode, though this resistance zone of 0.9080-0.9100 is likely to cap the intraday upside at least until the US data come out.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9040, with support below at 0.9010, 0.8989 and 0.8959, with resistance above at 0.9061, 0.9091 and 0.9112. Hourly Moving Averages are bullish, with the 200SMA at 0.8988 and the daily 20EMA at 0.8919. Hourly RSI is neutral at 69.
Aussie bulls still worship the RBA
AUD/USD failed to go through 0.9050-60 resistance zone and retraced back to 0.9025 during a quiet trading day on Monday. Despite a big black candle on the daily chart the AUD/USD retains the bullish bias as long as 0.9000 is unbroken. RBA published the minutes of its latest meeting earlier today, the policy makers said that further signs easy policy and a weak currency were having an impact. Nothing new really, but the markets liked it as the Aussie spiked to 0.9080, but soon retraced to 0.9067. Now that the key risk event for the Aussie is behind us, the AUD/USD may spend the rest а Asian session and the European session consolidation gains and getting ready for the bunch of US economic numbers. As long as 0.9030 support is intact, the pair is in bullish mode, though this resistance zone of 0.9080-0.9100 is likely to cap the intraday upside at least until the US data come out.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9040, with support below at 0.9010, 0.8989 and 0.8959, with resistance above at 0.9061, 0.9091 and 0.9112. Hourly Moving Averages are bullish, with the 200SMA at 0.8988 and the daily 20EMA at 0.8919. Hourly RSI is neutral at 69.