14 Nov 2013
AUD/USD jumps to 0.9388 session highs
FXstreet.com (Chicago) - AUD/USD reacted positively on dovish comments by Bernanke – adding Yellen’s earlier in the day – for a 0.26% daily advancement so far ahead of job market data in the US along another Yellen speech.
Perspective + Yellen + Bernanke
According to Jim Langlands from FXcharts, “the Aud has managed to hold onto yesterday’s low of 0.9268 pulling away from the important 0.9250 support and is now back above 0.9300 and near the session highs of 0.9331. The indicators are pointing a bit higher and if we can overcome 0.9330 then we can head towards 0.9350 and possibly to 0.9385 (23.6% of 0.9757/0.9268). Above that 0.9400 and 0.9420 will see sellers ahead of 0.9453 (38.2% of 0.9757/0.9268). On the downside, 0.9300 will find buyers, ahead of the 100DMA which lies at 0.9265 and 0.9250. Below that is the Fibo support at 0.9223 (0.618% of 0.8891/0.9757) and then the original neckline of the head and shoulders that we were previously watching, at 0.9210.” Yellen’s comments were dovish and Bernanke finished sentencing the USD weakness explaining "Fed is ‘missing’ on its jobs and inflation mandates”.
AUD/USD Technical Levels
Technically speaking, the pair is offered at 0.9375 and oscillates between the supports aligned at 0.9365 (October 3rd lows), 0.9330 (October 2nd lows) ahead of 0.9283 (September 29th lows) and the resistances set at 0.9391 (October 10th lows), 0.9453 (November 4th lows) followed by 0.9541 (November 6th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis navigating above the EMA20.
Perspective + Yellen + Bernanke
According to Jim Langlands from FXcharts, “the Aud has managed to hold onto yesterday’s low of 0.9268 pulling away from the important 0.9250 support and is now back above 0.9300 and near the session highs of 0.9331. The indicators are pointing a bit higher and if we can overcome 0.9330 then we can head towards 0.9350 and possibly to 0.9385 (23.6% of 0.9757/0.9268). Above that 0.9400 and 0.9420 will see sellers ahead of 0.9453 (38.2% of 0.9757/0.9268). On the downside, 0.9300 will find buyers, ahead of the 100DMA which lies at 0.9265 and 0.9250. Below that is the Fibo support at 0.9223 (0.618% of 0.8891/0.9757) and then the original neckline of the head and shoulders that we were previously watching, at 0.9210.” Yellen’s comments were dovish and Bernanke finished sentencing the USD weakness explaining "Fed is ‘missing’ on its jobs and inflation mandates”.
AUD/USD Technical Levels
Technically speaking, the pair is offered at 0.9375 and oscillates between the supports aligned at 0.9365 (October 3rd lows), 0.9330 (October 2nd lows) ahead of 0.9283 (September 29th lows) and the resistances set at 0.9391 (October 10th lows), 0.9453 (November 4th lows) followed by 0.9541 (November 6th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis navigating above the EMA20.