AUD/USD is going nowhere in Asia

FXStreet (Moscow) - AUD/USD is squeezed between 0.9250 support and 0.9260 resistance. Both bulls and bears are hesitant.

Bad luck for bears?

AUD/USD bears failed at the key support of 0.9203, and now it seems that the pair formed a short-term bottom. It is climbing slowly but steadily and on Tuesday Aussie managed to touch the high of 0.9276 and closed at 0.9258, just a couple of pips below the strong resistance of 0.9260. Australian construction data was mixed, which explains muted market reaction. Later during the day investors might be focused on European macro statistics as the US calendar is empty. The knock-on effects could trigger some volatility in the pair, but string reactions are unlikely. From the technical point of view, keep an eye at 0.9250 as the option barrier spotted there may limit the short-term downside. The nearest resistance is seen at 0.9260, once it is broken, the upside will extend to 0.9280.

What are today’s key AUD/USD levels?

Today's central pivot point can be found at 0.9257, with support below at 0.9234, 0.9210 and 0.9187, with resistance above at 0.9281, 0.9304 and 0.9328. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.9276 and the daily 20EMA at 0.9290. Hourly RSI is bullish at 55.