10 Jul 2014
AUD/USD bounces off lows and trades back at 0.9285
FXStreet (San Francisco) - After falling around 100 pips from yesterday's highs of 0.9455, the AUD/USD finally found support at 0.9360 in the European morning and it started to trade sideways around the 0.9375 area.
However, the gold at highs is supporting the AUD/USD and now the pair jumped 15 pips to break above recent range and to trade at 0.9350. Currently, AUD/USD is trading at 0.9384, down 0.29% on the day, having posted a daily high at 0.9459 and low at 0.9361.
AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
AUD/USD sentiment
"AUD/USD holds around critical 0.9370, supported by gold momentum, trading at $1342/oz, levels not seen since past March," comments Valeria Bednarik from FXStreet. "Nevertheless, the hourly chart presents a mild bearish tone, with price below moving averages and indicators in negative territory, showing no actual momentum at the time being."
However, the gold at highs is supporting the AUD/USD and now the pair jumped 15 pips to break above recent range and to trade at 0.9350. Currently, AUD/USD is trading at 0.9384, down 0.29% on the day, having posted a daily high at 0.9459 and low at 0.9361.
AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
AUD/USD sentiment
"AUD/USD holds around critical 0.9370, supported by gold momentum, trading at $1342/oz, levels not seen since past March," comments Valeria Bednarik from FXStreet. "Nevertheless, the hourly chart presents a mild bearish tone, with price below moving averages and indicators in negative territory, showing no actual momentum at the time being."