24 Mar 2015
AUD/USD: Better bid towards 0.79 handle
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7890 with a high of 0.7893 and a low of 0.7873.
AUD/USD has been better bid at the start of the European market and of the US this week. The pair has continued through into the Asian shift with demand at 0.7875 taking the major up towards the 0.79 handle. The US dollar is in supply while gold has extended the mid month rally to print $1,190 the high in early Asia on the handover from the States.
On the sticks, the pair has left the 55-day moving average at 0.7863 behind and is headed for the February high at 0.7912 as next target. However, the RSI is above 70 on the hourly chart and there are overbought conditions coming in ahead of the figure. While the pair is changing hands below the early January low at 0.8034, downside pressures remain with March lows in sight and also the Jan yearly lows of 0.7625.
AUD/USD has been better bid at the start of the European market and of the US this week. The pair has continued through into the Asian shift with demand at 0.7875 taking the major up towards the 0.79 handle. The US dollar is in supply while gold has extended the mid month rally to print $1,190 the high in early Asia on the handover from the States.
On the sticks, the pair has left the 55-day moving average at 0.7863 behind and is headed for the February high at 0.7912 as next target. However, the RSI is above 70 on the hourly chart and there are overbought conditions coming in ahead of the figure. While the pair is changing hands below the early January low at 0.8034, downside pressures remain with March lows in sight and also the Jan yearly lows of 0.7625.