8 Apr 2014
AUD/USD is on the recovery mode, but 0.9280 resistance caps the upside
FXStreet (Moscow) - AUD/USD recovered from the intraday low of 0.9261 to the current level of 0.9282 on quiet Asian trading.
AUD/USD bulls take a revenge
AUD/USD ended Monday on a softer note, but the downside was limited by 0.9250 support zone. Just as it was expected, the Aussie entered the consolidation phase, it is going to stay within its current range until the employment report is published. NAB business and conditions readings lowered to 4.1 in March against 7.3 in February, but they did not discourage AUD/USD bulls from pushing the pair to the resistance level of 0.9280. Obviously, traders do not believe that this will be enough for RBA to move away from its neutral monetary policy stance. From the technical point of view, if the Aussie manages to break above the area of offers at 0.9290, it will bump at 0.9308 (April 4 high). The downside will be limited by 0.9250.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9273, with support below at 0.9250, 0.9229 and 0.9206, with resistance above at 0.9294, 0.9317 and 0.9338. Hourly Moving Averages are mixed, with the 200SMA at 0.9251 and the daily 20EMA is bullish at 0.9172. Hourly RSI is bullish at 56.
AUD/USD bulls take a revenge
AUD/USD ended Monday on a softer note, but the downside was limited by 0.9250 support zone. Just as it was expected, the Aussie entered the consolidation phase, it is going to stay within its current range until the employment report is published. NAB business and conditions readings lowered to 4.1 in March against 7.3 in February, but they did not discourage AUD/USD bulls from pushing the pair to the resistance level of 0.9280. Obviously, traders do not believe that this will be enough for RBA to move away from its neutral monetary policy stance. From the technical point of view, if the Aussie manages to break above the area of offers at 0.9290, it will bump at 0.9308 (April 4 high). The downside will be limited by 0.9250.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9273, with support below at 0.9250, 0.9229 and 0.9206, with resistance above at 0.9294, 0.9317 and 0.9338. Hourly Moving Averages are mixed, with the 200SMA at 0.9251 and the daily 20EMA is bullish at 0.9172. Hourly RSI is bullish at 56.