26 Mar 2014
AUD/USD held up at key resistance 0.9250/60
FXStreet (Guatemala) - AUD/USD has pulled back from the recent highs of the rally that were scoring above 0.9240 and has come back onto 0.9220.
AUD/USD is performing well, but profit taking has arrived on the week’s performance while a slight improvement in US fundamentals attracted further supply on the session today. Meanwhile, Jacqui Douglas, Senior Global Strategist, Rates and FX Research at TD Securities reminded that RBA Governor Glenn Stevens made a keynote speech on ’The Economic Outlook’ in HK. “Overall, the speech read like a set of RBA Board meeting minutes, with a discussion of the global economy, including diverging global central bank monetary policy paths, followed by an upbeat assessment of domestic conditions”.
AUD/USD bullish
“AUD/USD has cleared the 0.9168 December high and this has opened the way to higher prices. A close above .9168 would imply a deeper rally to .9338, the 61.8% retracement and introduced scope to .9448, the November high”., Karen Jones, chief analyst at Commerzbank
AUD/USD Levels
The 20 DMA is 0.9030, the 50 DMA is 0.8949 and the 200 DMA is 0.9137. RSI (14) reads 67.87. Supports are ascending from 0.9048, 0.9080, 0.9112, 0.9138, 0.9180, and 0.9204. Spot is 0.9222 while resistances are 0.9260, 0.9278 and 0.9316.
AUD/USD is performing well, but profit taking has arrived on the week’s performance while a slight improvement in US fundamentals attracted further supply on the session today. Meanwhile, Jacqui Douglas, Senior Global Strategist, Rates and FX Research at TD Securities reminded that RBA Governor Glenn Stevens made a keynote speech on ’The Economic Outlook’ in HK. “Overall, the speech read like a set of RBA Board meeting minutes, with a discussion of the global economy, including diverging global central bank monetary policy paths, followed by an upbeat assessment of domestic conditions”.
AUD/USD bullish
“AUD/USD has cleared the 0.9168 December high and this has opened the way to higher prices. A close above .9168 would imply a deeper rally to .9338, the 61.8% retracement and introduced scope to .9448, the November high”., Karen Jones, chief analyst at Commerzbank
AUD/USD Levels
The 20 DMA is 0.9030, the 50 DMA is 0.8949 and the 200 DMA is 0.9137. RSI (14) reads 67.87. Supports are ascending from 0.9048, 0.9080, 0.9112, 0.9138, 0.9180, and 0.9204. Spot is 0.9222 while resistances are 0.9260, 0.9278 and 0.9316.