25 Jun 2013
AUD/USD capped below 0.9300
FXstreet.com (Barcelona) - The Aussie dollar is near session lows last trading at 0.9248, still slightly in the positive for the week, retracing from recent NY session and weekly highs at the 0.9300 figure, with the economic agenda in blank for the current session ahead.
The pair may extend the move north on extreme oversold readings
Valeria Bednarik, Chief Analyst at Fxstreet.com, notes the AUD/USD shows “a pretty neutral stance, as price stands above a flat 20 SMA while indicators turn horizontal right above their midlines.” Vednarick adds that “due to the extreme oversold readings seen in bigger time frames, the pair may continue heading north at least in the short term, also supported by 4 hours chart technical readings, as current candle stands above 20 SMA and momentum heads north above 100.”
Key technical levels
The analyst finds support levels at: 0.9250, 0.9200 and 0.9160, while resistance levels at: 0.9280, 0.9320 and 0.9380.
The pair may extend the move north on extreme oversold readings
Valeria Bednarik, Chief Analyst at Fxstreet.com, notes the AUD/USD shows “a pretty neutral stance, as price stands above a flat 20 SMA while indicators turn horizontal right above their midlines.” Vednarick adds that “due to the extreme oversold readings seen in bigger time frames, the pair may continue heading north at least in the short term, also supported by 4 hours chart technical readings, as current candle stands above 20 SMA and momentum heads north above 100.”
Key technical levels
The analyst finds support levels at: 0.9250, 0.9200 and 0.9160, while resistance levels at: 0.9280, 0.9320 and 0.9380.