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24 Feb 2014
Aussie bulls don't give up; 0.8990 resistance is in sight
FXStreet (Moscow) - Tokyo opening brought new Aussie sellers to the market and they pushed AUD/USD to the Asian lows at 0.8938, where the bearish momentum faded away and the pair began the upside correction; currently AUD/USD is trying to settle above 0.8960
Aussie bears are celebrating victory
AUD/USD finished the week in the red zone after three positive weeks in a row. The pair is again below 0.9000 level and it seems that Aussie bulls are exhausted. The AUD may continue to drift lower as there are plenty of domestic catalysts for extending the downside movement. General risk sentiments will also shape the Aussie’s future this week. FED tapering talks and continued emerging markets turmoil might trigger AUD selling across the board, though as long as AUD/USD stays above 0.8800, the bulls still have a chance to take a revenge. The closes support level comes at 0.8920 (21-day MA) and followed by strong demand on 0.8800, The resistance level is seen at 0.8860 and 8990.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8978, with support below at 0.8939, 0.8911 and 0.8872, with resistance above at 0.9006, 0.9045 and 0.9073. Hourly Moving Averages are bearish, with the 200SMA at 0.9011 and the daily 20EMA at 0.8953. Hourly RSI is neutral at 39.
Aussie bears are celebrating victory
AUD/USD finished the week in the red zone after three positive weeks in a row. The pair is again below 0.9000 level and it seems that Aussie bulls are exhausted. The AUD may continue to drift lower as there are plenty of domestic catalysts for extending the downside movement. General risk sentiments will also shape the Aussie’s future this week. FED tapering talks and continued emerging markets turmoil might trigger AUD selling across the board, though as long as AUD/USD stays above 0.8800, the bulls still have a chance to take a revenge. The closes support level comes at 0.8920 (21-day MA) and followed by strong demand on 0.8800, The resistance level is seen at 0.8860 and 8990.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8978, with support below at 0.8939, 0.8911 and 0.8872, with resistance above at 0.9006, 0.9045 and 0.9073. Hourly Moving Averages are bearish, with the 200SMA at 0.9011 and the daily 20EMA at 0.8953. Hourly RSI is neutral at 39.