22 Jan 2014
AUD/USD finds resistance at 10-day SMA
FXstreet.com (Córdoba) - The AUD/USD steadied in a slim range near daily highs after CPI-inspired momentum faded.
The Australian dollar rallied to fresh weekly highs during the Asian session in the wake of stronger-than-expected Q4 Aus CPI. The AUD/USD saw an immediate spike from below 0.8800 to the 0.8870 zone, and even though the pair edged a tad higher afterward, it failed to overcome the 10-day SMA and settled in a range during the last hours. At time of writing, the AUD/USD is trading at the 0.8870 zone, recording a 0.7% gain Wednesday, having hit a high of 0.8887 during the European session.
AUD/USD technical levels
In terms of technical levels, if the AUD/USD breaks above 0.8887 (Jan 22 high/10-day SMA), next resistances are seen at 0.8900 (psychological level) and 0.8915 (Jan 16 high). On the downside, supports could be faced at 0.8850 (intraday level), 0.8800 (psychological level) and 0.8785 (Jan 22 low).
The Australian dollar rallied to fresh weekly highs during the Asian session in the wake of stronger-than-expected Q4 Aus CPI. The AUD/USD saw an immediate spike from below 0.8800 to the 0.8870 zone, and even though the pair edged a tad higher afterward, it failed to overcome the 10-day SMA and settled in a range during the last hours. At time of writing, the AUD/USD is trading at the 0.8870 zone, recording a 0.7% gain Wednesday, having hit a high of 0.8887 during the European session.
AUD/USD technical levels
In terms of technical levels, if the AUD/USD breaks above 0.8887 (Jan 22 high/10-day SMA), next resistances are seen at 0.8900 (psychological level) and 0.8915 (Jan 16 high). On the downside, supports could be faced at 0.8850 (intraday level), 0.8800 (psychological level) and 0.8785 (Jan 22 low).