17 Jan 2014
AUD/USD continuing on the offer
FXstreet.com (Guatemala) - AUD/USD is sticking to a tight range at the end of this week, maintaining the descending channel on the 5 minute-chart and extending losses of the bear trend established 0.9070/85 around the start if the week.
Karen Jones, chief analyst at Commerzbank explained that the AUD/USD remains directly offered following its recent failure ahead of the 50 day-ma at 0.9058 and the erosion of both the 0.8851 support line and the 0.8822 recent low. "The move below 0.8822 targets initially the base of its 3 year channel at 0.8711".
AUD/USD Levels
The 20 DMA is 0.8923, the 50 DMA is 0.9058 and the 200 DMA is 0.9371. RSI (14) 44.44. Supports are ascending from 0.8633, 0.8668, 0.8737. Spot is 0.8785 while resistances are 0.8843, 0.8864, 0.8888 and 0.8934.
Karen Jones, chief analyst at Commerzbank explained that the AUD/USD remains directly offered following its recent failure ahead of the 50 day-ma at 0.9058 and the erosion of both the 0.8851 support line and the 0.8822 recent low. "The move below 0.8822 targets initially the base of its 3 year channel at 0.8711".
AUD/USD Levels
The 20 DMA is 0.8923, the 50 DMA is 0.9058 and the 200 DMA is 0.9371. RSI (14) 44.44. Supports are ascending from 0.8633, 0.8668, 0.8737. Spot is 0.8785 while resistances are 0.8843, 0.8864, 0.8888 and 0.8934.