21 Jul 2014
AUD/USD consolidates below 0.9400
FXStreet (Córdoba) - The AUD/USD started the week on a quiet note, consolidating just below the 0.9400 level, unable to set fresh direction.
Despite brief appearances, the AUD/USD has been unable to secure gains above 0.9400, leaving it vulnerable. However, the AUD seems very resilient despite broad risk aversion amid geopolitical woes.
In the absence of macroeconomic data, the pair has extended its consolidative pattern Monday and it is currently trading at 0.9390, virtually unchanged since opening. RBA’s Governor Glenn Stevens is scheduled to speak on Tuesday, which might attract market’s attention.
AUD/USD levels to watch
As for technical levels, the AUD/USD could find next resistances at 0.9400 (psychological level), 0.9410 (Jul 18 high) and 0.9423 (Jul 9 high). On the other hand, supports are seen at 0.9353 (50-day SMA), 0.9335 (Jul 18 low) and 0.9300 (psychological level).
Despite brief appearances, the AUD/USD has been unable to secure gains above 0.9400, leaving it vulnerable. However, the AUD seems very resilient despite broad risk aversion amid geopolitical woes.
In the absence of macroeconomic data, the pair has extended its consolidative pattern Monday and it is currently trading at 0.9390, virtually unchanged since opening. RBA’s Governor Glenn Stevens is scheduled to speak on Tuesday, which might attract market’s attention.
AUD/USD levels to watch
As for technical levels, the AUD/USD could find next resistances at 0.9400 (psychological level), 0.9410 (Jul 18 high) and 0.9423 (Jul 9 high). On the other hand, supports are seen at 0.9353 (50-day SMA), 0.9335 (Jul 18 low) and 0.9300 (psychological level).