11 Jul 2014
AUD/USD needs a close above 0.9420 to avoid further losses
FXStreet (Guatemala) - AUD/USD is trading at 0.9392, down -0.03% on the day, having posted a daily high at 0.9398 and low at 0.9389.
Valeria Bednarik, chief analyst at FXStreet explained Aussie suffered more from local data than from dollar strength on Thursday, as the AUD/USD eased early Asia on the back of disappointing Australian employment figures, yet managed to end the day in the vicinity of the 0.9400 figure, supported by gold soaring to levels not seen since past March. “The hourly chart shows price advancing above a still bearish 20 SMA , while indicators head higher and approach their midlines, not yet confirming an upward continuation. In the 4 hours chart price recovered from its 200 EMA usually a strong dynamic support/resistance, as indicators turn higher around their midlines, not showing enough upward strength just yet. A recovery above 0.9420 is what it takes to confirm a stronger advance, eyeing 0.9460 in the short term”.
AUD/USD Levels
Current price is 0.9393, with resistance ahead at 0.9394 (Daily Open), 0.9398 (Daily High), 0.9401 (Hourly 200 SMA), 0.9401 (Weekly Classic PP) and 0.9407 (Daily Classic PP). Next support to the downside can be found at 0.9391 (Daily 20 SMA), 0.9389 (Daily Low), 0.9389 (Daily Classic S1), 0.9388 (Hourly 20 EMA) and 0.9385 (Hourly 100 SMA).
Valeria Bednarik, chief analyst at FXStreet explained Aussie suffered more from local data than from dollar strength on Thursday, as the AUD/USD eased early Asia on the back of disappointing Australian employment figures, yet managed to end the day in the vicinity of the 0.9400 figure, supported by gold soaring to levels not seen since past March. “The hourly chart shows price advancing above a still bearish 20 SMA , while indicators head higher and approach their midlines, not yet confirming an upward continuation. In the 4 hours chart price recovered from its 200 EMA usually a strong dynamic support/resistance, as indicators turn higher around their midlines, not showing enough upward strength just yet. A recovery above 0.9420 is what it takes to confirm a stronger advance, eyeing 0.9460 in the short term”.
AUD/USD Levels
Current price is 0.9393, with resistance ahead at 0.9394 (Daily Open), 0.9398 (Daily High), 0.9401 (Hourly 200 SMA), 0.9401 (Weekly Classic PP) and 0.9407 (Daily Classic PP). Next support to the downside can be found at 0.9391 (Daily 20 SMA), 0.9389 (Daily Low), 0.9389 (Daily Classic S1), 0.9388 (Hourly 20 EMA) and 0.9385 (Hourly 100 SMA).