Back
17 Jul 2013
AUD/USD stalling ahead of 0.9250
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last trading at 0.9245, a +2.45% higher for the week so far, off recent weekly highs at 0.9261, ahead of later on FED Bernanke's testimony at 14:00 GMT.
AUD/USD likely to continue higher
“Australian dollar recovery continues, with the AUD/USD trading right above the 78.6% retracement of its latest bearish run at 0.9235,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “The hourly chart shows momentum diverging to the downside still well above its midline as 20 SMA advances higher, which supports a continuation rather than a correction lower. In the 4 hours chart, technical readings gain upward momentum, supporting a test of the 0.9300 area for the upcoming session.”
AUD/USD key technical levels
Bednarik finds support levels at: 0.9235, 0.9180 and 0.9150, while resistance levels at: 0.9270, 0.9300 and 0.9340.
AUD/USD likely to continue higher
“Australian dollar recovery continues, with the AUD/USD trading right above the 78.6% retracement of its latest bearish run at 0.9235,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “The hourly chart shows momentum diverging to the downside still well above its midline as 20 SMA advances higher, which supports a continuation rather than a correction lower. In the 4 hours chart, technical readings gain upward momentum, supporting a test of the 0.9300 area for the upcoming session.”
AUD/USD key technical levels
Bednarik finds support levels at: 0.9235, 0.9180 and 0.9150, while resistance levels at: 0.9270, 0.9300 and 0.9340.