23 Jul 2014
AUD/USD's rally takes a pause at 0.9450
FXStreet (San Francisco) - The Aussie's rally from 0.9380 found selling interest around 0.9450 area as the pair tested nearly 2-week highs at 0.9455 and it retraced to price at 0.9445.
Currently, AUD/USD is trading at 0.9447, up 0.56% on the day, having posted a daily high at 0.9457 and low at 0.9380. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.
AUD/USD sentiment
Matt Bacon-Hall from FXBeat comments that the AUD/USD's advance "Cannot be killed by conventional means." The pair is now testing "offers at 0.9450 so far, mostly Aussie corporate related."
Above the 0.9450, next resistance lies at 0.9460 (high July 10) ahead of 0.9500 (high July 2) and finally 0.9505 (high July 1). On the downside, a break below 0.9360 would open the door to 0.9356 and 0.9336.
Currently, AUD/USD is trading at 0.9447, up 0.56% on the day, having posted a daily high at 0.9457 and low at 0.9380. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.
AUD/USD sentiment
Matt Bacon-Hall from FXBeat comments that the AUD/USD's advance "Cannot be killed by conventional means." The pair is now testing "offers at 0.9450 so far, mostly Aussie corporate related."
Above the 0.9450, next resistance lies at 0.9460 (high July 10) ahead of 0.9500 (high July 2) and finally 0.9505 (high July 1). On the downside, a break below 0.9360 would open the door to 0.9356 and 0.9336.