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25 Feb 2014
AUD/USD steady on the board
FXStreet (Guatemala) - AUD/USD has been one of the majors which has in fact been quite resilient to the volatility experienced by other majors in recent sticks.
AUD/USD has consolidated between 0.9000 and 0.9050 and today the pair is a slow burner despite volatility else where with metals and the dollar of focus. Technically, Karen Jones, chief analyst at Commerzbank explained that the AUD/USD has held the initial test of the 55 day ma at 0.8918 and it is possible that the market will retest the 0.9079/86 resistance, (the January high and 38.2% retracement of the move down from the end of October), which she is looking to currently hold. “Support offered by 0.8945/18 (the 55 and 20 day ma) is regarded as the near term break down point. Only above 0.9086 would introduce scope to the 200 day ma at 0.9200, and the 0.9228 2013-2014 resistance line. We have minor support 0.8945/18, but consider that support at 0.8825 (December low) guards key support at 0.8683/0.8660 (the 2011-2014 channel base, the 38.2% retracement of the move from 2001 to 2011 and the recent low)”.
AUD/USD Levels
The 20 DMA is 0.8933, the 50 DMA is 0.8904, the 200 DMA is 0.9198. RSI (14) reads 53.69. Supports are 0.8907, 0.8927, 0.8974, 0.8998. Spot is 0.9023, 0.9087, 0.9169, 0.9204 and 0.9260.
AUD/USD has consolidated between 0.9000 and 0.9050 and today the pair is a slow burner despite volatility else where with metals and the dollar of focus. Technically, Karen Jones, chief analyst at Commerzbank explained that the AUD/USD has held the initial test of the 55 day ma at 0.8918 and it is possible that the market will retest the 0.9079/86 resistance, (the January high and 38.2% retracement of the move down from the end of October), which she is looking to currently hold. “Support offered by 0.8945/18 (the 55 and 20 day ma) is regarded as the near term break down point. Only above 0.9086 would introduce scope to the 200 day ma at 0.9200, and the 0.9228 2013-2014 resistance line. We have minor support 0.8945/18, but consider that support at 0.8825 (December low) guards key support at 0.8683/0.8660 (the 2011-2014 channel base, the 38.2% retracement of the move from 2001 to 2011 and the recent low)”.
AUD/USD Levels
The 20 DMA is 0.8933, the 50 DMA is 0.8904, the 200 DMA is 0.9198. RSI (14) reads 53.69. Supports are 0.8907, 0.8927, 0.8974, 0.8998. Spot is 0.9023, 0.9087, 0.9169, 0.9204 and 0.9260.