14 Jul 2014
AUD/USD on a knifes edge, sub 0.94 handle
FXStreet (Guatemala) - AUD/USD is trading at 0.9392, up 0.01% on the day, having posted a daily high at 0.9398 and low at 0.9377.
There is an air of reluctance to add long positions on a falling Aussie in the market currently as RBA Stevens continues to demonstrate his concerns over the strength of the currency and has repeatedly warned of a likely devaluing in the forthcoming period. However, having noted this, the pair has indeed maintained the supporting trend line from 0.9360 and begins the week on a knifes edge tucked in below the 0.94 handle. Looking to a daily chart, we see that RSI is neutral at 51.19.
AUD/USD Levels
With spot trading at 0.9393, we can see next resistance ahead at 0.9396 (Hourly 200 SMA), 0.9397 (Weekly Classic PP), 0.9398 (Daily High), 0.9410 (Daily Classic R1) and 0.9410 (Yesterday's High). Support below can be found at 0.9393 (Hourly 100 SMA), 0.9392 (Daily Classic PP), 0.9392 (Daily 20 SMA), 0.9389 (Hourly 20 EMA) and 0.9378 (Daily Open).
There is an air of reluctance to add long positions on a falling Aussie in the market currently as RBA Stevens continues to demonstrate his concerns over the strength of the currency and has repeatedly warned of a likely devaluing in the forthcoming period. However, having noted this, the pair has indeed maintained the supporting trend line from 0.9360 and begins the week on a knifes edge tucked in below the 0.94 handle. Looking to a daily chart, we see that RSI is neutral at 51.19.
AUD/USD Levels
With spot trading at 0.9393, we can see next resistance ahead at 0.9396 (Hourly 200 SMA), 0.9397 (Weekly Classic PP), 0.9398 (Daily High), 0.9410 (Daily Classic R1) and 0.9410 (Yesterday's High). Support below can be found at 0.9393 (Hourly 100 SMA), 0.9392 (Daily Classic PP), 0.9392 (Daily 20 SMA), 0.9389 (Hourly 20 EMA) and 0.9378 (Daily Open).