24 Mar 2014
AUD/USD bulls set sights at 0.9100 resistance
FXStreet (Moscow) - AUD/USD is recovering from the intraday lows of 0.9049 on the back of profit-taking.
Aussie is not ready for harsh decisions
AUD/USD finished the week in the green zone, but the bulls failed to take the pair above the pivotal 0.9100 resistance level that coincides with the neckline of the reversed head-and-shoulder pattern on the daily charts. It means the Aussie is still in the consolidation mode. As the Australian calendar is light this week the Aussie will be influenced by external catalysts, such as Chinese data and geopolitical news. AUD/USD will be sensitive to the AUD-USD rate differential issue as the FED is determined to end its QE program, while the RBA is in wait-and-see mode. From the technical point of view 0.9100 is still the key. Once it is fir my broken, the pair will rush to minor offers at 1.9120 and then to 0.9150. On the downside the support is seen at 0.9049 (Asian low) and at 0.9025 (medium demand).
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9072, with support below at 0.9041, 0.9001 and 0.8970, with resistance above at 0.9112, 0.9143 and 0.9183. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.9050 and the daily 20EMA at 0.9025. Hourly RSI is neutral at 52.
Aussie is not ready for harsh decisions
AUD/USD finished the week in the green zone, but the bulls failed to take the pair above the pivotal 0.9100 resistance level that coincides with the neckline of the reversed head-and-shoulder pattern on the daily charts. It means the Aussie is still in the consolidation mode. As the Australian calendar is light this week the Aussie will be influenced by external catalysts, such as Chinese data and geopolitical news. AUD/USD will be sensitive to the AUD-USD rate differential issue as the FED is determined to end its QE program, while the RBA is in wait-and-see mode. From the technical point of view 0.9100 is still the key. Once it is fir my broken, the pair will rush to minor offers at 1.9120 and then to 0.9150. On the downside the support is seen at 0.9049 (Asian low) and at 0.9025 (medium demand).
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9072, with support below at 0.9041, 0.9001 and 0.8970, with resistance above at 0.9112, 0.9143 and 0.9183. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.9050 and the daily 20EMA at 0.9025. Hourly RSI is neutral at 52.