29 Apr 2014
AUD/USD takes pains to recover from 0.9226
FXStreet (Moscow) - AUD/USD is trying to recover from Asian lows at 0.9226, but bearish sentiments are still strong.
Iron proof for Aussie bears
AUD/USD continued its journey to the South and came dangerously close to 0.9220/00 support area. The Aussie has been under pressure lately due to a combination of technical and fundamental factors. The latest reason to sell the Australian currency is related to the drop of iron ore prices. The export price for this commodity, vital for the Australian economy reached the lows level since March 12. This news would hardly be able to produce a notable effect on Aussie dynamics if the sentiments towards AUD/USD hadn’t turned sour after the pair broke below 0.9300. On the intraday basis the strand demand on approach to 0.9220 and 0.9200 may limit AUD/USD losses, while the upside correction will be limited by 0.9300.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9272, with support below at 0.9254, 0.9229 and 0.9206, with resistance above at 0.9302, 0.9349 and 0.9379. Hourly Moving Averages are bearish, with the 200SMA at 0.9314 and the daily 20EMA at 0.9291. Hourly RSI is bearish at 32.
Iron proof for Aussie bears
AUD/USD continued its journey to the South and came dangerously close to 0.9220/00 support area. The Aussie has been under pressure lately due to a combination of technical and fundamental factors. The latest reason to sell the Australian currency is related to the drop of iron ore prices. The export price for this commodity, vital for the Australian economy reached the lows level since March 12. This news would hardly be able to produce a notable effect on Aussie dynamics if the sentiments towards AUD/USD hadn’t turned sour after the pair broke below 0.9300. On the intraday basis the strand demand on approach to 0.9220 and 0.9200 may limit AUD/USD losses, while the upside correction will be limited by 0.9300.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9272, with support below at 0.9254, 0.9229 and 0.9206, with resistance above at 0.9302, 0.9349 and 0.9379. Hourly Moving Averages are bearish, with the 200SMA at 0.9314 and the daily 20EMA at 0.9291. Hourly RSI is bearish at 32.