18 Jul 2014
AUD/USD opening up the downside?
FXStreet (Guatemala) - AUD/USD is trading at 0.9345, down -0.07% on the day, having posted a daily high at 0.9357 and low at 0.9335.
AUD/USD is consolidating the downside after the risk aversion sell-off across global markets. Currently RSI is at 44.36, up from the last hourly print at 36.41, with ADX at 18.39, down from its previous close at 25.93. Daily RSI sits at 45.45, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 0.9360, down from the last close at 0.9382 and declining. Whilst the uncertainly prevails over events of today and with the weekend approaching, a close below the pivot maybe on the cards and the non committed bulls will be awaiting developments across next weeks sessions before taking advantage of what might seem a cheap short term Aussie here, or is this now lower for longer and a catalyst that is developing for further downside considering the RBA’s recent dovish tone? “The Aussie key support is the 0.9320ish region if it breaks look for another 100 points”, explained Greg McKenna at Vantage FX.
AUD/USD hourly levels
Spot is presently trading at 0.9344, and next resistance can be seen at 0.9357 (Daily High) and 0.9360 (Hourly 20 EMA). Support below can be found at 0.9320/06 ahead of 0.9290/70.
AUD/USD is consolidating the downside after the risk aversion sell-off across global markets. Currently RSI is at 44.36, up from the last hourly print at 36.41, with ADX at 18.39, down from its previous close at 25.93. Daily RSI sits at 45.45, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 0.9360, down from the last close at 0.9382 and declining. Whilst the uncertainly prevails over events of today and with the weekend approaching, a close below the pivot maybe on the cards and the non committed bulls will be awaiting developments across next weeks sessions before taking advantage of what might seem a cheap short term Aussie here, or is this now lower for longer and a catalyst that is developing for further downside considering the RBA’s recent dovish tone? “The Aussie key support is the 0.9320ish region if it breaks look for another 100 points”, explained Greg McKenna at Vantage FX.
AUD/USD hourly levels
Spot is presently trading at 0.9344, and next resistance can be seen at 0.9357 (Daily High) and 0.9360 (Hourly 20 EMA). Support below can be found at 0.9320/06 ahead of 0.9290/70.