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25 Aug 2014
AUD/USD reverses daily gains, back below 0.9300
FXStreet (Córdoba) - The AUD/USD has already reversed intraday gains and touched a fresh low at the beginning of the New York session, as the greenback gathers pace versus commodity currencies despite a positive opening on Wall Street.
The AUD/USD failed to sustain gains above the 0.9330 area and having fallen more than 30 pips within the last hours it recently printed a low of 0.9288. At time of writing, the Aussie is trading at the 0.9290 zone, 0.27% below its opening price.
AUD/USD technical perspective
“The hourly chart shows price accelerating below its 20 MSA and indicators turning lower, with RSI now nearing 35 and momentum steady right above 100”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart price is now below a flat 20 SMA that offers however, little technical information as per being flat, while momentum diverges from price action, still heading higher above its midline”.
Bednarik locates next support levels at 0.9260, 0.9220 and 0.9180, while resistances are seen at 0.9330, 0.9370 and 0.9410.
The AUD/USD failed to sustain gains above the 0.9330 area and having fallen more than 30 pips within the last hours it recently printed a low of 0.9288. At time of writing, the Aussie is trading at the 0.9290 zone, 0.27% below its opening price.
AUD/USD technical perspective
“The hourly chart shows price accelerating below its 20 MSA and indicators turning lower, with RSI now nearing 35 and momentum steady right above 100”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart price is now below a flat 20 SMA that offers however, little technical information as per being flat, while momentum diverges from price action, still heading higher above its midline”.
Bednarik locates next support levels at 0.9260, 0.9220 and 0.9180, while resistances are seen at 0.9330, 0.9370 and 0.9410.