20 Jun 2014
AUD/USD consolidating sub the 0.94 handle
FXStreet (Guatemala) - Currently, AUD/USD is trading at 0.9385, down -0.14% on the day, having posted a daily high at 0.9417 and low at 0.9378.
Overall, the AUD/USD remains in a bullish phase despite the profits taken through the 0.4 handle as we draw towards the closing hours of this weeks session. The Market Strategy Team at UOB Group noted that the high of 0.9432 took out the strong resistant at 0.9420 and in the process shifted the outlook to bullish. “However, upward momentum is only beginning to pick up and any further up-move will likely struggle near the 0.9460 (high seen earlier this year). Key support is at 0.9320."
AUD/USD Levels
With spot trading at 0.9386, we can see next resistance ahead at 0.9390 (Yesterday's Low), 0.9391 (Weekly Classic PP), 0.9394 (Hourly 20 EMA), 0.9398 (Daily Open) and 0.9407 (Daily Classic PP). Support below can be found at 0.9385 (Hourly 200 SMA), 0.9381 (Daily Classic S1), 0.9378 (Daily Low), 0.9377 (Hourly 100 SMA) and 0.9364 (Daily Classic S2).
Overall, the AUD/USD remains in a bullish phase despite the profits taken through the 0.4 handle as we draw towards the closing hours of this weeks session. The Market Strategy Team at UOB Group noted that the high of 0.9432 took out the strong resistant at 0.9420 and in the process shifted the outlook to bullish. “However, upward momentum is only beginning to pick up and any further up-move will likely struggle near the 0.9460 (high seen earlier this year). Key support is at 0.9320."
AUD/USD Levels
With spot trading at 0.9386, we can see next resistance ahead at 0.9390 (Yesterday's Low), 0.9391 (Weekly Classic PP), 0.9394 (Hourly 20 EMA), 0.9398 (Daily Open) and 0.9407 (Daily Classic PP). Support below can be found at 0.9385 (Hourly 200 SMA), 0.9381 (Daily Classic S1), 0.9378 (Daily Low), 0.9377 (Hourly 100 SMA) and 0.9364 (Daily Classic S2).