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25 Jul 2014
AUD/USD contained from pressures on top of 94.20
FXStreet (Guatemala) - AUD/USD is trading at 0.9418, up 0.00% on the day, having posted a daily high at 0.9424 and low at 0.9413.
Val Bednarik, Chief analyst at FXStreet explained that the AUD/USD retreated from a multi-week high of 0.9475 reached over Asian session following RBNZ decision to shift its economic policy to neutral after raising rates for another 0.25% up to 3.50%. “Aussie demand eased however as the pair approached to the year high of 0.9500, and trades now below 0.9420 static resistance level. The hourly chart shows a mild bearish tone, with indicators flat in negative territory and price below its 20 SMA, while the 4 hours chart shows price finding now support at 0.9410, 20 SMA as indicators turn lower from overbought readings. Still not clear, some recovery above 0.9420 should see price returning towards recent highs, while below mentioned 20 SMA, price will likely look for a test of 0.9370 in the short term”.
AUD/USD Levels
With spot trading at 0.9420, we can see next resistance ahead at 0.9424 (Daily High), 0.9429 (Hourly 20 EMA), 0.9433 and 0.9456 (Weekly High). Support below can be found at 0.9419 (Daily Open), 0.9410 (Hourly 100 SMA) and 0.9402 (Daily Classic S1).
Val Bednarik, Chief analyst at FXStreet explained that the AUD/USD retreated from a multi-week high of 0.9475 reached over Asian session following RBNZ decision to shift its economic policy to neutral after raising rates for another 0.25% up to 3.50%. “Aussie demand eased however as the pair approached to the year high of 0.9500, and trades now below 0.9420 static resistance level. The hourly chart shows a mild bearish tone, with indicators flat in negative territory and price below its 20 SMA, while the 4 hours chart shows price finding now support at 0.9410, 20 SMA as indicators turn lower from overbought readings. Still not clear, some recovery above 0.9420 should see price returning towards recent highs, while below mentioned 20 SMA, price will likely look for a test of 0.9370 in the short term”.
AUD/USD Levels
With spot trading at 0.9420, we can see next resistance ahead at 0.9424 (Daily High), 0.9429 (Hourly 20 EMA), 0.9433 and 0.9456 (Weekly High). Support below can be found at 0.9419 (Daily Open), 0.9410 (Hourly 100 SMA) and 0.9402 (Daily Classic S1).