5 Dec 2013
AUD/USD mixed signals
FXstreet.com (London) - AUD/USD has spiked higher again, reaching 0.9079, however, this move is being met with supply.
Earlier, strategists at Commerzbank had said, “AUD/USD has eroded 0.9043, the 78.6% Fibonacci retracement of the move up from August. This is negative price action and the market is viewed as directly offered while capped by the resistance line at 0.9278”. They continued to say in respect of the downside, “Very near term however we note that the daily RSI has not confirmed this new low and we may see some consolidation around 0.9000”.
AUD/USD Levels
The 20 DMA is 0.9247, the 50 DMA is 0.9396 and the 200 DMA is 0.9593. RSI (14) reads 58. Supports are 0.8924, 0.8958, 0.8973, 0.8999 and 0.9040. Spot is currently 0.9065 and resistances are 0.9072, 0.9088 and 0.9114.
Earlier, strategists at Commerzbank had said, “AUD/USD has eroded 0.9043, the 78.6% Fibonacci retracement of the move up from August. This is negative price action and the market is viewed as directly offered while capped by the resistance line at 0.9278”. They continued to say in respect of the downside, “Very near term however we note that the daily RSI has not confirmed this new low and we may see some consolidation around 0.9000”.
AUD/USD Levels
The 20 DMA is 0.9247, the 50 DMA is 0.9396 and the 200 DMA is 0.9593. RSI (14) reads 58. Supports are 0.8924, 0.8958, 0.8973, 0.8999 and 0.9040. Spot is currently 0.9065 and resistances are 0.9072, 0.9088 and 0.9114.