29 Nov 2013
AUD/USD approaching immediate resistance at 0.9120
FXstreet.com (Chicago) - AUD/USD seems to consolidate the earlier reversal after bouncing off session lows to partially recover previous weekly losses. At the moment, the pair approaches the immediate resistance at 0.9120 in the afternoon of the American trading session.
AUD/USD Technical Levels
Price action reveals the pair manages to bounce off 3-month lows after recovering the previously broken support around the 0.9077 earlier in Asia this morning. Having reached the strong 0.9143 resistance, session highs, the pair attempts to consolidate around the 0.9110 zone. Technically speaking, the pair is offered at 0.9118 and oscillates between the supports aligned at 0.9077 (August 26th highs), 0.9031 (August 24th highs) ahead of 0.8974 (August 29th highs) and the resistances set at 0.9122 (November 25th lows), 0.9186 (November 21st lows) followed by 0.9270 (November 12th lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.
AUD/USD Technical Levels
Price action reveals the pair manages to bounce off 3-month lows after recovering the previously broken support around the 0.9077 earlier in Asia this morning. Having reached the strong 0.9143 resistance, session highs, the pair attempts to consolidate around the 0.9110 zone. Technically speaking, the pair is offered at 0.9118 and oscillates between the supports aligned at 0.9077 (August 26th highs), 0.9031 (August 24th highs) ahead of 0.8974 (August 29th highs) and the resistances set at 0.9122 (November 25th lows), 0.9186 (November 21st lows) followed by 0.9270 (November 12th lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.