AUD/USD losing the pivot

FXStreet (Guatemala) - AUD/USD had made some ground back towards the mid point of the 0.90 handle but is losing its grip on intraday fluctuations.

Karen Jones , chief analyst at Commerzbank noted that the market is stalling at 0.9079/86, the January high and 38.2% retracement of the move down from the end of October. “We note the TD perfected set up on the daily chart and suspect that the market will ease lower towards 0.8922/0.8892, the 55 and 20 day ma)”. Meanwhile, Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman said, “The $0.9080 area still needs to be overcome to signal a new leg up with the $0.9140 and $0.9200 area the next immediate targets."

AUD/USD Levels

The 20 DMA is 0.8885, the 50 DMA is 0.8901 and the 200 DMA is 0.9214. RSI (14) reads 42.13. Supports are ascending from 0.8920, 0.8949,
0.8966 and 0.8985. Spot is 0.9023, 0.9048, 0.9087, 0.9125 and 0.9169.