14 Jul 2014
AUD/USD struggles at 0.9400 resistance
FXStreet (Moscow) - AUD/USD is poking at 0.9400, but is seems that bulls are not strong enough to overcome this resistance. The Asian high is set at 0.9402.
Below 0.9400 but still fighting
RBA bent over backwards to tale Aussie down, but managed only to slow downs its rise as the currency shows a remarkable resilience in the face of strong verbal interventions and weak fundamental data. The RBA minutes of July meeting is the key event of the week for the Aussie, that may increase the temporary bearish pressure on the currency. The market will be scanning the text of the minutes for more dovish rhetoric from the central bankers. These perspective might discourage the Aussie bulls ahead of the event, though if they manage to break firmly above 0.9400, the upside may be extended to Thursday’s high at 0.9459. The intraday downside is likely to be limited by 0.9360.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9392, with support below at 0.9375, 0.9357 and 0.9340, with resistance above at 0.9410, 0.9427 and 0.9445. Hourly Moving Averages are bullish with the 200SMA at 0.9396 and the daily 20EMA at 0.9392. Hourly RSI is bullish at 55.
Below 0.9400 but still fighting
RBA bent over backwards to tale Aussie down, but managed only to slow downs its rise as the currency shows a remarkable resilience in the face of strong verbal interventions and weak fundamental data. The RBA minutes of July meeting is the key event of the week for the Aussie, that may increase the temporary bearish pressure on the currency. The market will be scanning the text of the minutes for more dovish rhetoric from the central bankers. These perspective might discourage the Aussie bulls ahead of the event, though if they manage to break firmly above 0.9400, the upside may be extended to Thursday’s high at 0.9459. The intraday downside is likely to be limited by 0.9360.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9392, with support below at 0.9375, 0.9357 and 0.9340, with resistance above at 0.9410, 0.9427 and 0.9445. Hourly Moving Averages are bullish with the 200SMA at 0.9396 and the daily 20EMA at 0.9392. Hourly RSI is bullish at 55.