18 Jul 2014
AUD/USD jumps to weekly high at 0.9410, but it got a rejection
FXStreet (San Francisco) - The Australian Dollar jumped around 30 pips in the latest few minutes from 0.9380 to test the highest level since July 9 at 0.9410 where the pair found selling interest and it was launched back hard to even lower prices than previously priced.
Currently, AUD/USD is trading at 0.9371, still up 0.20% on the day, having posted a daily high at 0.9412 and low at 0.9335. AUD/USD spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
AUD/USD sentiment
Matt Bacon-Hall from FXBeat comments that the "AUD/USD Range 0.9360-90 Has been bid this morning on the back of AUD/JPY short covering, with traders frustrated by the lack of follow through to the downside Kiwi has been steady (unchanged from open) and likewise for USDCAD."
If the pair loses the 0.9365 area, it would face next supports at 0.9350 and 0.9330. On the upside, resistances are at 0.9400 area, 0.9420 and 0.9455.
Currently, AUD/USD is trading at 0.9371, still up 0.20% on the day, having posted a daily high at 0.9412 and low at 0.9335. AUD/USD spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
AUD/USD sentiment
Matt Bacon-Hall from FXBeat comments that the "AUD/USD Range 0.9360-90 Has been bid this morning on the back of AUD/JPY short covering, with traders frustrated by the lack of follow through to the downside Kiwi has been steady (unchanged from open) and likewise for USDCAD."
If the pair loses the 0.9365 area, it would face next supports at 0.9350 and 0.9330. On the upside, resistances are at 0.9400 area, 0.9420 and 0.9455.