17 Jun 2014
AUD/USD a bit heavy ahead of RBA minutes
FXStreet (Bali) - AUD/USD is trading at 0.9388, down -0.11% on the day, having posted a daily high at 0.9406 and low at 0.9385, ahead of the RBA minutes release.
AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bearish. RSI is in neutral territory at 30.58, down from it’s last hourly close at 41.72, while ADX is trending above 30 at 39.02, up from 16.34 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 61.56. The 200 SMA is currently at 0.9401, up from 0.9362 at the last period close, and climbing on the hourly AUD/USD chart. Moving in an upward trend, the exponential average closing price is 0.9331.
Valeria Bednarik, Chief Analyst at FXStreet, notes: "Aussie buyers defended again the 0.9370 level against the greenback, with the pair recovering back above the daily ascendant trend line coming from 0.9257 after a failed attempt to break below it early US session. The hourly chart however, shows little directional strength, with indicators flat in neutral territory, and 20 SMA horizontal a few pips below current price. In the 4 hours chart the technical picture is also neutral, with bulls still ruling the pair, but a downward corrective movement possible in the short term: below 0.9370, the pair may fall down to 0.9330 before regaining ground."
AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bearish. RSI is in neutral territory at 30.58, down from it’s last hourly close at 41.72, while ADX is trending above 30 at 39.02, up from 16.34 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 61.56. The 200 SMA is currently at 0.9401, up from 0.9362 at the last period close, and climbing on the hourly AUD/USD chart. Moving in an upward trend, the exponential average closing price is 0.9331.
Valeria Bednarik, Chief Analyst at FXStreet, notes: "Aussie buyers defended again the 0.9370 level against the greenback, with the pair recovering back above the daily ascendant trend line coming from 0.9257 after a failed attempt to break below it early US session. The hourly chart however, shows little directional strength, with indicators flat in neutral territory, and 20 SMA horizontal a few pips below current price. In the 4 hours chart the technical picture is also neutral, with bulls still ruling the pair, but a downward corrective movement possible in the short term: below 0.9370, the pair may fall down to 0.9330 before regaining ground."