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22 May 2014
AUD/USD testing the downside
FXStreet (Guatemala) - AUD/USD is trading at 0.9216, down -0.38% on the day, having posted a daily high at 0.9276 and low at 0.9214.
AUD/USD is testing the downside after the AUD rallied overnight on stronger China PMI and Westpac Global Strategy Group explained that the power of the Chinese consumer will only increase in coming years, adding to the importance of the Westpac-MNI China CSI which debuts next week. “AUD has taken a hit this week but fears over iron ore and rate cut talk should ease”.
AUD/USD Levels
Current price is 0.9216, with resistance ahead at 0.9221 (Daily Classic S1), 0.9236 (Weekly Classic S3), 0.9238 (Hourly 20 EMA), 0.9238 (Daily Classic PP) and 0.9243 (Monthly Low). Next support to the downside can be found at 0.9214 (Daily Low), 0.9208 (Yesterday's Low), 0.9190 (Daily Classic S2), 0.9173 (Daily Classic S3) and 0.9171 (Daily 200 SMA).
AUD/USD chart formations
Looking at price patterns, we can see a Doji 4-hour candlestick formation.
AUD/USD is testing the downside after the AUD rallied overnight on stronger China PMI and Westpac Global Strategy Group explained that the power of the Chinese consumer will only increase in coming years, adding to the importance of the Westpac-MNI China CSI which debuts next week. “AUD has taken a hit this week but fears over iron ore and rate cut talk should ease”.
AUD/USD Levels
Current price is 0.9216, with resistance ahead at 0.9221 (Daily Classic S1), 0.9236 (Weekly Classic S3), 0.9238 (Hourly 20 EMA), 0.9238 (Daily Classic PP) and 0.9243 (Monthly Low). Next support to the downside can be found at 0.9214 (Daily Low), 0.9208 (Yesterday's Low), 0.9190 (Daily Classic S2), 0.9173 (Daily Classic S3) and 0.9171 (Daily 200 SMA).
AUD/USD chart formations
Looking at price patterns, we can see a Doji 4-hour candlestick formation.