24 Jul 2014
AUD/USD pulling back ahead of Key China PMI
FXStreet (Guatemala) - AUD/USD is trading at 0.9443, down -0.11% on the day, having posted a daily high at 0.9460 and low at 0.9435.
AUD/USD now awaits the HSBC Manufacturing PMI which could be a mover in the Asia session. Meanwhile, until now Valeria Bednarik, chief analyst at FXStreet explained Aussie had been the star of the day in the US, soaring on local rising inflation and extending its advance all through the day. She notes that this is a strong static resistance level at 0.9460. We have been pressing lower since while she noted that the 4 hour chart indicators have been looking exhausted to the upside, losing their upward potential and turning flat near overbought levels. “Nevertheless, further advances beyond 0.9460 should signal an upward continuation, and a quick test of 0.9500 figure. Bulls will maintain the lead as long as price holds above 0.9420 support”.
AUD/USD Levels
Spot is presently trading at 0.9446, and next resistance can be seen at 0.9460 (Daily High) and (Weekly Classic R2). Next support to the downside can be found at 0.9440 (Hourly 20 EMA), 0.9435 (Daily Low), 0.9428 (Weekly Classic R1) and 0.9395 (Hourly 100 SMA).
AUD/USD now awaits the HSBC Manufacturing PMI which could be a mover in the Asia session. Meanwhile, until now Valeria Bednarik, chief analyst at FXStreet explained Aussie had been the star of the day in the US, soaring on local rising inflation and extending its advance all through the day. She notes that this is a strong static resistance level at 0.9460. We have been pressing lower since while she noted that the 4 hour chart indicators have been looking exhausted to the upside, losing their upward potential and turning flat near overbought levels. “Nevertheless, further advances beyond 0.9460 should signal an upward continuation, and a quick test of 0.9500 figure. Bulls will maintain the lead as long as price holds above 0.9420 support”.
AUD/USD Levels
Spot is presently trading at 0.9446, and next resistance can be seen at 0.9460 (Daily High) and (Weekly Classic R2). Next support to the downside can be found at 0.9440 (Hourly 20 EMA), 0.9435 (Daily Low), 0.9428 (Weekly Classic R1) and 0.9395 (Hourly 100 SMA).