16 Jul 2014
AUD/USD downside is favoured leading into Asia
FXStreet (Guatemala) - AUD/USD is trading at 0.9363, down -0.07% on the day, having posted a daily high at 0.9377 and low at 0.9329.
AUD/USD advances are slowing up in the US session in the closing hours as we listened to Yellen first explain that the US economy is on track in relation to growth and labour markets and then we heard from the beige book that consumer spending has increased in every district while labour markets have improved slightly. Meanwhile, Val Bednarik, Chief analyst at FXStreet explained that the AUD/USD tested critical midterm support around 0.9330, and managed to bounce some on the back of general positive mood, albeit trades now below 0.9370 immediate short term resistance. “The hourly chart shows a mild positive tone with price above a bearish 20 SMA and indicators flat in positive territory, while the 4 hours chart maintains the negative tone albeit showing no current directional strength. For the most the downside is favored although 0.9320/30 has proved strong over these last two months. Stops below it should be large and therefore once triggered, fuel a downward run”.
AUD/USD Levels
Spot is presently trading at 0.9364, and next resistance can be seen at 0.9370 (Weekly Low), 0.9371 (Daily Open), 0.9374 (Daily Classic PP), 0.9377 (Daily High) and 0.9380 (Hourly 100 SMA). Support below can be found at 0.9358 (Hourly 20 EMA), 0.9349 (Yesterday's Low), 0.9344 (Daily Classic S1), 0.9338 (Monthly Low) and 0.9335 (Weekly Classic S1).
AUD/USD advances are slowing up in the US session in the closing hours as we listened to Yellen first explain that the US economy is on track in relation to growth and labour markets and then we heard from the beige book that consumer spending has increased in every district while labour markets have improved slightly. Meanwhile, Val Bednarik, Chief analyst at FXStreet explained that the AUD/USD tested critical midterm support around 0.9330, and managed to bounce some on the back of general positive mood, albeit trades now below 0.9370 immediate short term resistance. “The hourly chart shows a mild positive tone with price above a bearish 20 SMA and indicators flat in positive territory, while the 4 hours chart maintains the negative tone albeit showing no current directional strength. For the most the downside is favored although 0.9320/30 has proved strong over these last two months. Stops below it should be large and therefore once triggered, fuel a downward run”.
AUD/USD Levels
Spot is presently trading at 0.9364, and next resistance can be seen at 0.9370 (Weekly Low), 0.9371 (Daily Open), 0.9374 (Daily Classic PP), 0.9377 (Daily High) and 0.9380 (Hourly 100 SMA). Support below can be found at 0.9358 (Hourly 20 EMA), 0.9349 (Yesterday's Low), 0.9344 (Daily Classic S1), 0.9338 (Monthly Low) and 0.9335 (Weekly Classic S1).