10 Apr 2014
AUD/USD climbs closer to November highs
FXStreet (Moscow) - AUD/USD reached 5-month high at 0.9460, last seen on November, 3, and is still on the move up.
The Aussie has a thorny way up
Here we are, the AUD/USD has broken the November high at 0.9448 and now only the sky is the limit for the Aussie bulls. We believe that the pair is strongly overbought and a healthy correction is very welcome. The psychologically important level of 0.9500 might become a barrier as there are strong offers clustered on approach, while option barrier serves as just another hurdle for the bulls. From the fundamental point of view, positive data on initial jobless claims may support the US Dollar across the board. Also keep an eye on import prices as they serve as an early indication of inflationary process.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9375, with support below at 0.9350, 0.9308 and 0.9283, with resistance above at 0.9414, 0.9442 and 0.9484. Hourly Moving Averages are bullish, with the 200SMA at 0.9277 and the daily 20EMA is bullish at 0.9209. Hourly RSI is bullish at 68.
The Aussie has a thorny way up
Here we are, the AUD/USD has broken the November high at 0.9448 and now only the sky is the limit for the Aussie bulls. We believe that the pair is strongly overbought and a healthy correction is very welcome. The psychologically important level of 0.9500 might become a barrier as there are strong offers clustered on approach, while option barrier serves as just another hurdle for the bulls. From the fundamental point of view, positive data on initial jobless claims may support the US Dollar across the board. Also keep an eye on import prices as they serve as an early indication of inflationary process.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9375, with support below at 0.9350, 0.9308 and 0.9283, with resistance above at 0.9414, 0.9442 and 0.9484. Hourly Moving Averages are bullish, with the 200SMA at 0.9277 and the daily 20EMA is bullish at 0.9209. Hourly RSI is bullish at 68.