Back
15 May 2014
AUD/USD capped at 0.9380
FXStreet (Edinburgh) - The Aussie dollar remains in the upper extreme of the intraday range, taking the AUD/USD back to the 0.9375/70 region.
AUD/USD deflates from 0.9400
The 0.9400 area is still elusive for AUD-bulls, as a profit taking session on Wednesday prevented spot from surpassing the key barrier with conviction. Nothing of note in Oz regarding data releases, with only the RBA’s FX Transactions at A$325 million in April, down from March’s A$736 million. “While AUD moved above the strong resistant at 0.9390 to touch a high of 0.9409, the subsequent pullback has resulted in a mixed outlook. For today, expect sideway consolidation between 0.9345 and 0.9405”, noted Quek Ser Leang, Market Strategist at UOB Group.
AUD/USD key levels
As of writing the pair is flat at 0.9378 with the next resistance at 0.9427 (high Apr.11) ahead of 0.9461 (high Apr.10) and then 0.9500 (psychological level). On the flip side, a breakdown of 0.9227 (low Apr.29) would open the door to 0.9225 (low Apr.4) and finally 0.9184 (50-d MA).
AUD/USD deflates from 0.9400
The 0.9400 area is still elusive for AUD-bulls, as a profit taking session on Wednesday prevented spot from surpassing the key barrier with conviction. Nothing of note in Oz regarding data releases, with only the RBA’s FX Transactions at A$325 million in April, down from March’s A$736 million. “While AUD moved above the strong resistant at 0.9390 to touch a high of 0.9409, the subsequent pullback has resulted in a mixed outlook. For today, expect sideway consolidation between 0.9345 and 0.9405”, noted Quek Ser Leang, Market Strategist at UOB Group.
AUD/USD key levels
As of writing the pair is flat at 0.9378 with the next resistance at 0.9427 (high Apr.11) ahead of 0.9461 (high Apr.10) and then 0.9500 (psychological level). On the flip side, a breakdown of 0.9227 (low Apr.29) would open the door to 0.9225 (low Apr.4) and finally 0.9184 (50-d MA).