23 Jul 2014
AUD/USD rises further above 0.9400
FXStreet (Córdoba) - Another round of buying sent the AUD/USD to fresh highs as European investors support the positive sentiment triggered by solid Australian CPI data.
The AUD/USD took a step higher and reached a fresh 2-week high of 0.9447, as prospects of a rate cut fade after inflation came at the upper bound of RBA target (2-3%). At time of writing, the AUD/USD is trading at 0.9440, recording a 0.51% gain on the day.
It remains now to be seen if the AUD will manage to hold above the 0.9400 mark, which has proven to be a tough level. The AUD/USD pierced above the psychological level yesterday but then retreated and closed the day just below.
AUD/USD technical levels
In terms of technical levels, next resistances for AUD/USD are seen at 0.9455 (Jul 10 high) and 0.9498/0.9500 (Jul 2 high/psychological level). On the other hand, supports are seen at 0.9355 (50-day SMA), 0.9335 (Jul 18 low) and 0.9328 (Jul 3 & 16 lows).
The AUD/USD took a step higher and reached a fresh 2-week high of 0.9447, as prospects of a rate cut fade after inflation came at the upper bound of RBA target (2-3%). At time of writing, the AUD/USD is trading at 0.9440, recording a 0.51% gain on the day.
It remains now to be seen if the AUD will manage to hold above the 0.9400 mark, which has proven to be a tough level. The AUD/USD pierced above the psychological level yesterday but then retreated and closed the day just below.
AUD/USD technical levels
In terms of technical levels, next resistances for AUD/USD are seen at 0.9455 (Jul 10 high) and 0.9498/0.9500 (Jul 2 high/psychological level). On the other hand, supports are seen at 0.9355 (50-day SMA), 0.9335 (Jul 18 low) and 0.9328 (Jul 3 & 16 lows).