17 Jul 2014
AUD/USD reverses weekly losses
FXStreet (Córdoba) - The AUD/USD managed to advance to near 0.9400 Thursday despite a cautious mood among investors as US stocks open lower and European equities trade in red.
The AUD/USD however is defying gravity, extending its recovery from 2-week lows to a high of 0.9390 and erasing completely previous weekly losses in the process. At time of writing, the pair is trading at 0.9380, 0.16% above its opening price.
AUD/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet notes that short-term charts hold the bullish tone, with the 20-hour SMA offering dynamic support at 0.9370.
Bednarik locates immediate supports at 0.9370, 0.9330 and 0.9300, while she places resistances at 0.9420, 0.9460 and 0.9500.
The AUD/USD however is defying gravity, extending its recovery from 2-week lows to a high of 0.9390 and erasing completely previous weekly losses in the process. At time of writing, the pair is trading at 0.9380, 0.16% above its opening price.
AUD/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet notes that short-term charts hold the bullish tone, with the 20-hour SMA offering dynamic support at 0.9370.
Bednarik locates immediate supports at 0.9370, 0.9330 and 0.9300, while she places resistances at 0.9420, 0.9460 and 0.9500.