16 Jul 2014
AUD/USD extends bounce from key 0.9320/25 area
FXStreet (San Francisco) - Jamie Coleman from FXBeat affirmed recently that the 0.9320/25 is a huge pivotal level for AUD/USD. And so that, the pair tested it overnight with a consequent bounce to current 0.9360.
"That is 61.8% of the most recent 0.9210/0.9505 rally and below that level the crowd of complacent carry-traders will begin to get nervous," Coleman affirms. Currently, AUD/USD is trading at 0.9359, down 0.11% on the day, having posted a daily high at 0.9377 and low at 0.9329.
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
AUD/USD sentiment
If pair falls below 0.9320, market would see a liquidation in the pair. Next supports would be 0.9300, 0.9250 and 0.9210. On the upside, 0.9375, 0.9400 and 0.9420 are resistances.
"That is 61.8% of the most recent 0.9210/0.9505 rally and below that level the crowd of complacent carry-traders will begin to get nervous," Coleman affirms. Currently, AUD/USD is trading at 0.9359, down 0.11% on the day, having posted a daily high at 0.9377 and low at 0.9329.
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
AUD/USD sentiment
If pair falls below 0.9320, market would see a liquidation in the pair. Next supports would be 0.9300, 0.9250 and 0.9210. On the upside, 0.9375, 0.9400 and 0.9420 are resistances.