Back
19 Mar 2014
AUD/USD being held up at 0.9140 resistance
FXStreet (Guatemala) - AUD/USD has been held up on the rally from sub 0.9080 onto the 0.91 handle.
Ivan Delgado, who is the Head of Asian Editors at FXStreet explained in an article that even if technicals are aligning for the bullish dynamics to persist, traders should expect a bumpy road overhead as a big clash of buy/sell order is expected circa 0.9130/50, a very important resistance that converges with both a descending trendline off 1.0540 and the 200-day MA. “The ability to break above such a sticky obstacle would be quite conclusive in terms of further gains projected, as it would allow price to head towards next target at .92 (50% fib retrac from the .9740-.8640 decline) and ahead of another potential runner (void area) until .9280, where Nov 13 lows are found”.
AUD/USD Levels
The 20 DMA is 0.9004, the 50 DMA is 0.8932 and the 200 DMA is 0.9150. RSI (14) reads 62.20. Supports are ascending from 0.8980, 0.8990, 0.9004, 0.9050,
And 0.9080. Spot is 0.9126 while resistances 0.9147, 0.9169 and 0.9204.
Ivan Delgado, who is the Head of Asian Editors at FXStreet explained in an article that even if technicals are aligning for the bullish dynamics to persist, traders should expect a bumpy road overhead as a big clash of buy/sell order is expected circa 0.9130/50, a very important resistance that converges with both a descending trendline off 1.0540 and the 200-day MA. “The ability to break above such a sticky obstacle would be quite conclusive in terms of further gains projected, as it would allow price to head towards next target at .92 (50% fib retrac from the .9740-.8640 decline) and ahead of another potential runner (void area) until .9280, where Nov 13 lows are found”.
AUD/USD Levels
The 20 DMA is 0.9004, the 50 DMA is 0.8932 and the 200 DMA is 0.9150. RSI (14) reads 62.20. Supports are ascending from 0.8980, 0.8990, 0.9004, 0.9050,
And 0.9080. Spot is 0.9126 while resistances 0.9147, 0.9169 and 0.9204.