12 May 2015
AUD/USD might see further gains above 0.8030 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, sees further gains possible for AUD/USD if the pair breaks above the immediate resistance at 0.8030, with the pair supported by the recovery in commodities.
Key Quotes
“The Aussie is unstoppable, supported not only by dollar weakness but also by a strong recovery in commodities.”
“The AUD/USD pair pressures the 0.8000 figure, and the 1 hour chart shows that the technical indicators maintain a strong upward momentum, despite being in extreme overbought levels.”
“In the 4 hours chart the price surged above its 20 SMA that anyway remains flat, whilst the technical indicators aim higher above their mid-lines, supporting some additional advances should the price extend beyond the 0.8030 level, the immediate resistance.“
“Support levels: 0.7940 0.7900 0.7860“
“Resistance levels: 0.8030 0.8070 0.8110”
Key Quotes
“The Aussie is unstoppable, supported not only by dollar weakness but also by a strong recovery in commodities.”
“The AUD/USD pair pressures the 0.8000 figure, and the 1 hour chart shows that the technical indicators maintain a strong upward momentum, despite being in extreme overbought levels.”
“In the 4 hours chart the price surged above its 20 SMA that anyway remains flat, whilst the technical indicators aim higher above their mid-lines, supporting some additional advances should the price extend beyond the 0.8030 level, the immediate resistance.“
“Support levels: 0.7940 0.7900 0.7860“
“Resistance levels: 0.8030 0.8070 0.8110”