1 May 2014
AUD/USD had another try at 0.9300 pivot
FXStreet (Moscow) - AUD/USD retreated to current levels of 0.9286, discouraged by a ailed attempt to break above 0.9300.
No breakout yet, but it was a nice try
AUD/USD ended Wednesday cautiously below 0.9300 at 0.9290 supported by USD selling across the board following weaker than expected GDP numbers. Early in Asia Aussie attempted another assault at 0.9300 in the wake of positive China PMI data and higher than forecasted Australian import and export prices. Alas, the bulls were out of luck this time as AUD/USD returned to current levels of 0.9286. The resistance of 0.9300 will be hard to overcome as there are plenty of selling orders clustered here with stops above. The 4-hour chart shows that the pair has tested this resistance at least 6 times since the end of the previous week. The chances for it to be broken today are scarce. We need to see deeply negative US statistics or hear something really pessimistic from Yellen to trigger USD new wave of USD sales.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9281, with support below at 0.9258, 0.9229 and 0.9206, with resistance above at 0.9310, 0.9333 and 0.9362. Hourly Moving Averages are bullish, with the 200SMA at 0.9295 and the daily 20EMA at 0.9289. Hourly RSI is bullish at 60.
No breakout yet, but it was a nice try
AUD/USD ended Wednesday cautiously below 0.9300 at 0.9290 supported by USD selling across the board following weaker than expected GDP numbers. Early in Asia Aussie attempted another assault at 0.9300 in the wake of positive China PMI data and higher than forecasted Australian import and export prices. Alas, the bulls were out of luck this time as AUD/USD returned to current levels of 0.9286. The resistance of 0.9300 will be hard to overcome as there are plenty of selling orders clustered here with stops above. The 4-hour chart shows that the pair has tested this resistance at least 6 times since the end of the previous week. The chances for it to be broken today are scarce. We need to see deeply negative US statistics or hear something really pessimistic from Yellen to trigger USD new wave of USD sales.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9281, with support below at 0.9258, 0.9229 and 0.9206, with resistance above at 0.9310, 0.9333 and 0.9362. Hourly Moving Averages are bullish, with the 200SMA at 0.9295 and the daily 20EMA at 0.9289. Hourly RSI is bullish at 60.