11 Apr 2014
AUD/USD heading for 0.9500?
FXStreet (Guatemala) - Currently, AUD/USD is trading at 0.9413, up 0.24% on the day, having posted a daily high at 0.9464 and low at 0.9371.
AUD/USD is keeping to the ascending support line on a weaker US dollar and accompanied by the positive backdrop from the Australian Jobs data yesterday. Kit Jukes, global head of currency strategy at Societe Generale explained that their “Tech people” will declare a bull market in AUD/USD if 0.95 breaks. “Until then it's 'just' a correction”. He explained also, The FOMC is working so hard to reassure markets that it will not tighten too much, too soon, that it risks unsettling the carefully constructed forward guidance put in place last year to prepare markets for eventual policy normalisation. This is breathing new, temporary life into carry trades, and undermining the US dollar”.
Meanwhile, daily RSI is in neutral territory at 73.32
On the hourly AUD/USD chart, the 200 SMA is climbing and currently at 0.9389, up from the previous hour close at 0.9293. On average, the exponential closing price for the past 20 days is 0.9209, with the trend indicating a continuation higher ahead.
AUD/USD Levels (Doji 1hr stick)
Current price is 0.9413, with resistance ahead at 0.9414 (Hourly 20 EMA), 0.9417 (Daily Classic R1), 0.9438 (Weekly Classic R3), 0.9442 (Daily Classic R2) and 0.9464 (Daily High). Next support to the downside can be found at 0.9401 (Yesterday's High), 0.9391 (Daily Open), 0.9391 (Monthly High), 0.9391 (Weekly High) and 0.9391 (YTD High). Looking at price patterns, we can see a Doji 1-hour candlestick formation, and a Doji 4-hour formation.
AUD/USD is keeping to the ascending support line on a weaker US dollar and accompanied by the positive backdrop from the Australian Jobs data yesterday. Kit Jukes, global head of currency strategy at Societe Generale explained that their “Tech people” will declare a bull market in AUD/USD if 0.95 breaks. “Until then it's 'just' a correction”. He explained also, The FOMC is working so hard to reassure markets that it will not tighten too much, too soon, that it risks unsettling the carefully constructed forward guidance put in place last year to prepare markets for eventual policy normalisation. This is breathing new, temporary life into carry trades, and undermining the US dollar”.
Meanwhile, daily RSI is in neutral territory at 73.32
On the hourly AUD/USD chart, the 200 SMA is climbing and currently at 0.9389, up from the previous hour close at 0.9293. On average, the exponential closing price for the past 20 days is 0.9209, with the trend indicating a continuation higher ahead.
AUD/USD Levels (Doji 1hr stick)
Current price is 0.9413, with resistance ahead at 0.9414 (Hourly 20 EMA), 0.9417 (Daily Classic R1), 0.9438 (Weekly Classic R3), 0.9442 (Daily Classic R2) and 0.9464 (Daily High). Next support to the downside can be found at 0.9401 (Yesterday's High), 0.9391 (Daily Open), 0.9391 (Monthly High), 0.9391 (Weekly High) and 0.9391 (YTD High). Looking at price patterns, we can see a Doji 1-hour candlestick formation, and a Doji 4-hour formation.