AUD/USD cannot bring itself to 0.9400 breakthrough

FXStreet (Moscow) - AUD/USD danced around 20-pips range when RBA was published, and then settled at 0.9394; bulls don’t leave their attempts to creep above 0.9400, with no success so far.

Below 0.9400 but still fighting

RBA minutes of July meeting, perceived as the key event for the Aussie, passed practically unnoticed. AUD/USD is locked in a tight range,as bulls could not draw enough inspiration from the minutes to break above the strong resistance of 0.9400. Later during the day US retail sales report might become a market mover for Aussie. The numbers are expected to show some improvement in consumer shopping activity, which may support USD across the board. From the technical point of view keep an eye at 0.9400 resistance, once it is broken, the upside will accelerate to 0.9422 (61.8% of $0.9459-0.9361). The support is seen at 0.9387 and 0.9360.

What are today’s key AUD/USD levels?

Today's central pivot point can be found at 0.9391, with support below at 0.9378, 0.9362 and 0.9349, with resistance above at 0.9407, 0.9420 and 0.9445. Hourly Moving Averages are mostly bullish with the 200SMA at 0.9385 and the daily 20EMA at 0.9392. Hourly RSI is bullish at 53.