11 Apr 2014
AUD/USD recovery capped at 0.9425; back below 0.9400
FXStreet (San Francisco) - The Aussie's recovery from 0.9360 has been capped at the 0.9425 where the pair found resistance and launched back to price below the 0.9400 area.
The AUD/USD lost 65 pips from 0.9425 overnight as Chinese CPI for March came in below estimates (2.4% YoY versus 2.5% exp), then, the pair moved sideways in the European morning around the 0.9360 where the pair bottomed and attempted to erase losses.
Currently, AUD/USD is trading at 0.9391, down 0.23% on the day, having posted a daily high at 0.9429 and low at 0.9362. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
AUD/USD levels
The pair would face supports at 0.9360 (Apr 11 low), 0.9334 (Apr 9 low) and 0.9300 (psychological level). On the upside, resistances are seen at 0.9425 (Apr 11 high), 0.9460 (Apr 10 high) and 0.9500 (psychological level).
The AUD/USD lost 65 pips from 0.9425 overnight as Chinese CPI for March came in below estimates (2.4% YoY versus 2.5% exp), then, the pair moved sideways in the European morning around the 0.9360 where the pair bottomed and attempted to erase losses.
Currently, AUD/USD is trading at 0.9391, down 0.23% on the day, having posted a daily high at 0.9429 and low at 0.9362. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
AUD/USD levels
The pair would face supports at 0.9360 (Apr 11 low), 0.9334 (Apr 9 low) and 0.9300 (psychological level). On the upside, resistances are seen at 0.9425 (Apr 11 high), 0.9460 (Apr 10 high) and 0.9500 (psychological level).