14 Jan 2014
AUD/USD making an outside edge
FXstreet.com (Guatemala) - AUD/USD has dropped below the descending channels support on the short-term chart and is drifting along with the 0.8960’s.
AUD/USD is more a drift than anything conclusive or decisive and may resume the upside again in the absence of anything concrete from the calendar to look forward to. Markets are still focusing on the dismal Non Farm Payrolls and trading is likely to remain choppy. Karen Jones, chief analyst at Commerzbank, said however, form a technical perspective, failure at 0.9042 will cast attention back to the 0.8822 mid December low. “Below 0.8822 will target the base of the 2 year down channel at 0.8717 and our longer term targets are found at 0.8550 en route to 0.8068”.
AUD/USD Levels
The 20 DMA is 0.8919, the 50 DMA is 0.9093 and the 200 DMA is 0.9396. RSI (14) reads 39.62. Supports are ascending from 0.8913, 0.8955. Spot is 0.8962 while resistances are 0.8985, 0.9005, 0.9040, 0.9087, 0.9125, 0.9169 and 0.9204.
AUD/USD is more a drift than anything conclusive or decisive and may resume the upside again in the absence of anything concrete from the calendar to look forward to. Markets are still focusing on the dismal Non Farm Payrolls and trading is likely to remain choppy. Karen Jones, chief analyst at Commerzbank, said however, form a technical perspective, failure at 0.9042 will cast attention back to the 0.8822 mid December low. “Below 0.8822 will target the base of the 2 year down channel at 0.8717 and our longer term targets are found at 0.8550 en route to 0.8068”.
AUD/USD Levels
The 20 DMA is 0.8919, the 50 DMA is 0.9093 and the 200 DMA is 0.9396. RSI (14) reads 39.62. Supports are ascending from 0.8913, 0.8955. Spot is 0.8962 while resistances are 0.8985, 0.9005, 0.9040, 0.9087, 0.9125, 0.9169 and 0.9204.