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18 Mar 2014
AUD/USD retraced from intraday highs at 0.9109
FXStreet (Moscow) - AUD/USD poked at 0.9100 resistance on the back of RBA monetary policy decision, but the break out attempt failed and the pair retraced to current levels at 0.9077
Aussie vs. RBA
AUD/USD partially reversed the losses of the previous week on Monday and came close to the by far the most important resistance of 0.9100. Though the rally that was caused by post-Crimean vote relief and updated forecasts on RBA monetary policy, may be reversed. RBA published fairly positive minutes from the previous monetary policy meeting, which helped the Aussie on its way to new highs. Now that the key risk event is behind us, the AUD/USD will be driven by technical factors and risk sentiments. Apart from Russian/Ukrainian crisis, China is another source of concern as the second Chinese corporate default looms large. If the speculations get traction, the Aussie may feel the pain. From the longer-term technical point of view, the pair is still consolidating as long as it is below 0.9100. The immediate resistance is seen at 0.9080. The first support comes at 0.9050 and followed by 0.9035.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9063, with support below at 0.9025, 0.8963 and 0.8925, with resistance above at 0.9125, 0.9163 and 0.9225. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.9035 and the daily 20EMA at 0.9002. Hourly RSI is neutral at 56.
Aussie vs. RBA
AUD/USD partially reversed the losses of the previous week on Monday and came close to the by far the most important resistance of 0.9100. Though the rally that was caused by post-Crimean vote relief and updated forecasts on RBA monetary policy, may be reversed. RBA published fairly positive minutes from the previous monetary policy meeting, which helped the Aussie on its way to new highs. Now that the key risk event is behind us, the AUD/USD will be driven by technical factors and risk sentiments. Apart from Russian/Ukrainian crisis, China is another source of concern as the second Chinese corporate default looms large. If the speculations get traction, the Aussie may feel the pain. From the longer-term technical point of view, the pair is still consolidating as long as it is below 0.9100. The immediate resistance is seen at 0.9080. The first support comes at 0.9050 and followed by 0.9035.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9063, with support below at 0.9025, 0.8963 and 0.8925, with resistance above at 0.9125, 0.9163 and 0.9225. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.9035 and the daily 20EMA at 0.9002. Hourly RSI is neutral at 56.