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Trading news
16 Apr 2015
AUD/USD: Bulls build support for next test of 0.7835
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7793 with a high of 0.7823 and low of 0.7673.
AUD/USD has been coming under pressure in the closing period of the US shift while Gold has dropped back a couple of bucks and oil sliding a dollar and away from the highest levels since Dec 2014. The moves come in a broad based turnaround in the greenback as positions start to get squared up towards the end of the week as we move in to Asia Friday.
Technically, the major is down to the previous R3 and between EMA5 and 10 on the hourly chart. RSI (14) sands at 63 and leaves room for bulls to press on should the support here hold. Valeria Bednarik, chief analyst at FXStreet explained, "Whilst the technical indicators are beginning to look exhausted in overbought territory, they are far from suggesting a bearish corrective movement at the time being. Above 0.7835, the pair should continue advancing, eyeing March 24th daily high of 0.7936." that the Australian dollar shined this Thursday.
AUD/USD has been coming under pressure in the closing period of the US shift while Gold has dropped back a couple of bucks and oil sliding a dollar and away from the highest levels since Dec 2014. The moves come in a broad based turnaround in the greenback as positions start to get squared up towards the end of the week as we move in to Asia Friday.
Technically, the major is down to the previous R3 and between EMA5 and 10 on the hourly chart. RSI (14) sands at 63 and leaves room for bulls to press on should the support here hold. Valeria Bednarik, chief analyst at FXStreet explained, "Whilst the technical indicators are beginning to look exhausted in overbought territory, they are far from suggesting a bearish corrective movement at the time being. Above 0.7835, the pair should continue advancing, eyeing March 24th daily high of 0.7936." that the Australian dollar shined this Thursday.