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5 Aug 2014
AUD/USD testing 0.9330’s resistance level
FXStreet (Guatemala) - AUD/USD is trading at 0.9330 having posted a daily high at 0.9340 and low at 0.9330.
The AiG Performance of Services Index (Jul) gave further support to the AUD/USD when it printed 49.3 for July vs 47.6 previous. Nevertheless, the pair is trading very slowly as we await both the Trade Balance and the RBA meeting coming up later in the session. Valeria Bednark, chief analyst at FXstreet said that if price accelerates above current levels, 0.9370 comes next and if sellers don’t appear to halt the rally there, next probable bullish target stands at 0.9420. “Negative news on the other hand, should see the pair quickly approaching 0.9300 while it will be below this last that the pair will be exposed to a continued slide. Technically, a mild bullish tone prevails both in 1 and 4 hours chart, yet with big news in the way, is no time to follow indicators”.
AUD/USD Levels
Spot is presently trading at 0.9336, and next resistance can be seen at 0.9336 (Weekly Classic PP), 0.9370 and 0.9420. Support below can be found at 0.9326 (Hourly 100 SMA), 0.9300, 0.9260 and 0.9220.
The AiG Performance of Services Index (Jul) gave further support to the AUD/USD when it printed 49.3 for July vs 47.6 previous. Nevertheless, the pair is trading very slowly as we await both the Trade Balance and the RBA meeting coming up later in the session. Valeria Bednark, chief analyst at FXstreet said that if price accelerates above current levels, 0.9370 comes next and if sellers don’t appear to halt the rally there, next probable bullish target stands at 0.9420. “Negative news on the other hand, should see the pair quickly approaching 0.9300 while it will be below this last that the pair will be exposed to a continued slide. Technically, a mild bullish tone prevails both in 1 and 4 hours chart, yet with big news in the way, is no time to follow indicators”.
AUD/USD Levels
Spot is presently trading at 0.9336, and next resistance can be seen at 0.9336 (Weekly Classic PP), 0.9370 and 0.9420. Support below can be found at 0.9326 (Hourly 100 SMA), 0.9300, 0.9260 and 0.9220.