21 Jul 2014
AUD/USD: Resilient despite geopolitical risks
FXStreet (Bali) - Considering the number of high risk geopolitical headlines seen ithe n recent days, the AUD/USD keeps performing remarkably well, currently trading just below the 0.94 handle after a vigorous bounce off 0.9320-40 key support, an area that keeps the downside well protected.
According to Jim Langlands, Founder at FXCharts: "The charts are now looking a little more positive and the Aud could see another run to 0.9400 and above, although this week sees RBA speeches from Stevens & Debelle and also the Q2 CPI which may temper some of the bullish enthusiasm."
Technically, if AUD/USD can break above Fridays 0.9410 high, Jim expects the next key resistances to be faced at "0.9425 and then to the 10 July high at 0.9455 and the 10 April high at 0.9460." On the downside, Jim sees "0.9350 will see bids again below which would head back to Fridays. 0.9335 low."
According to Jim Langlands, Founder at FXCharts: "The charts are now looking a little more positive and the Aud could see another run to 0.9400 and above, although this week sees RBA speeches from Stevens & Debelle and also the Q2 CPI which may temper some of the bullish enthusiasm."
Technically, if AUD/USD can break above Fridays 0.9410 high, Jim expects the next key resistances to be faced at "0.9425 and then to the 10 July high at 0.9455 and the 10 April high at 0.9460." On the downside, Jim sees "0.9350 will see bids again below which would head back to Fridays. 0.9335 low."