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10 Feb 2014
AUD/USD climbing back
FXStreet (Guatemala) - AUD/USD lost the 0.90 handle at the end of last week and has dropped a figure to test the downside on 0.8910. The pair has been grinding higher at the start of this week and meets supply at 0.8950.
Karen Jones, chief analyst at Commerzbank noted that the AUD/USD finished the week still looking upside corrective. “The recent rebound off the 0.8670/38.2% retracement of the of the entire move from 2001 to 2001 is gaining traction and there is scope to 0.9079/86, the January high. Dips should find initial support circa 0.8910/.8870 ahead of 0.8825 (December low). This guards key support at 0.8689/0.8660 (the 2011-2014 channel base, the 38.2% retracement of the move from 2001 to 2011 and the recent low)”.
AUD/USD Levels
The 20 DMA is 0.8838, the 50 DMA is 0.8914 and the 200 DMA is 0.9251. RSI (14) reads 51.30. Supports are ascending from 0.8821, 0.8873, 0.8896, 0.8923. Spot is 0.8942 while resistances are 0.9009, 0.9045, 0.9087 and 0.9125.
Karen Jones, chief analyst at Commerzbank noted that the AUD/USD finished the week still looking upside corrective. “The recent rebound off the 0.8670/38.2% retracement of the of the entire move from 2001 to 2001 is gaining traction and there is scope to 0.9079/86, the January high. Dips should find initial support circa 0.8910/.8870 ahead of 0.8825 (December low). This guards key support at 0.8689/0.8660 (the 2011-2014 channel base, the 38.2% retracement of the move from 2001 to 2011 and the recent low)”.
AUD/USD Levels
The 20 DMA is 0.8838, the 50 DMA is 0.8914 and the 200 DMA is 0.9251. RSI (14) reads 51.30. Supports are ascending from 0.8821, 0.8873, 0.8896, 0.8923. Spot is 0.8942 while resistances are 0.9009, 0.9045, 0.9087 and 0.9125.