11 Jul 2013
AUD/USD held below the 0.9200 level
FXstreet.com (New York) - The AUD/USD foreign exchange rate jumped higher Thursday morning, surging on dovish Fed comments that sent the AUD soaring vs. the USD during Asian trading.
In these moments, the AUD/USD is now trading at 0.9180, gaining +0.08%, thus far Thursday. The pair surged earlier above resistance at 0.9165 (55-day MA and 200-day SMA convergence) and 0.9140 (20-day SMA) – moving forward, the resistances lie ahead at 0.9190 onto 0.9210.
AUD/USD strategic bias
“Despite the intrepid advance of the AUD/USD, the pair faces a short-term bearish outlook in the hourly chart, as the price remains contained below a bearish 20-day SMA, while indicators head south below their midlines. Ultimately though, the pair has yet to break below 0.9000, which is needed to confirm a return of the bearish trend seen over the last three months.” notes Valeria Bednarik, an analyst at FXstreet.com.
In these moments, the AUD/USD is now trading at 0.9180, gaining +0.08%, thus far Thursday. The pair surged earlier above resistance at 0.9165 (55-day MA and 200-day SMA convergence) and 0.9140 (20-day SMA) – moving forward, the resistances lie ahead at 0.9190 onto 0.9210.
AUD/USD strategic bias
“Despite the intrepid advance of the AUD/USD, the pair faces a short-term bearish outlook in the hourly chart, as the price remains contained below a bearish 20-day SMA, while indicators head south below their midlines. Ultimately though, the pair has yet to break below 0.9000, which is needed to confirm a return of the bearish trend seen over the last three months.” notes Valeria Bednarik, an analyst at FXstreet.com.