AUD/USD widening the sideways channel

FXStreet (Guatemala) - Currently, AUD/USD is trading at 0.9327, down 0.00% on the day, having posted a daily high at 0.9331 and low at 0.9324.

AUD/USD is relatively quiet, although trades with a wider range within the sideways channel in Europe and the US. The pair is lining up for the weeks event for the pair that will likely come in the form of CPI for Australia. Meanwhile, there are concerns that are worth noting coming from the government in regards to the RBA’s recent neutral stance on its rates policy.

AUD/USD technically slightly bullish

On the hourly AUD/USD chart, the 200 SMA is declining and currently at 0.9331, down from the previous hour close at 0.9372. On average, the exponential closing price for the past 20 days is 0.9290, with the trend indicating a continuation higher ahead.

AUD/USD Levels (note Doji)

With spot trading at 0.9328, we can see next resistance ahead at 0.9328 (Weekly Low), 0.9331 (Daily High), 0.9332 (Hourly 20 EMA), 0.9335 (Daily Classic PP) and 0.9346 (Hourly 100 SMA). Support below can be found at 0.9328 (Daily Open), 0.9326 (Daily Classic S1), 0.9324 (Daily Low), 0.9315 (Yesterday's Low) and 0.9313 (Daily Classic S2). Looking to candlestick patterns, we can see a Doji formation on the 1-hour chart and a Doji formation on the 4-hour chart.