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6 Aug 2014
AUD/USD looking bullish technically
FXStreet (Guatemala) - AUD/USD traded well on the spike in Gold and the greenback helped the cause when a sudden drop took the pair higher to meet offers around 0.9370.
Valeria Bednarik, chief analyst at FXStreet explained that ahead of Australian employment figures, the pair presents a strong upward momentum in the short term, with price well above a bullish 20 SMA and indicators heading strongly up despite in overbought levels. “In the 4 hours chart the technical picture is also bullish, looking for a break above mentioned 0.9370 for an upward rally towards 0.9420, and bulls losing ground on a break below 0.9330”.
AUD/USD Levels
Current price is 0.9351, with resistance ahead at 0.9363 (Daily 20 SMA), 0.9375 (Daily High),0.9420 and 0.9460. Next support to the downside can be found at 0.9344 (Hourly 200 SMA), 0.9330, 0.9300 and 0.9260.
Valeria Bednarik, chief analyst at FXStreet explained that ahead of Australian employment figures, the pair presents a strong upward momentum in the short term, with price well above a bullish 20 SMA and indicators heading strongly up despite in overbought levels. “In the 4 hours chart the technical picture is also bullish, looking for a break above mentioned 0.9370 for an upward rally towards 0.9420, and bulls losing ground on a break below 0.9330”.
AUD/USD Levels
Current price is 0.9351, with resistance ahead at 0.9363 (Daily 20 SMA), 0.9375 (Daily High),0.9420 and 0.9460. Next support to the downside can be found at 0.9344 (Hourly 200 SMA), 0.9330, 0.9300 and 0.9260.