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1 Apr 2014
AUD/USD bounces at 0.9230 and trades back above 0.9250
FXStreet (San Francisco) - Earlier in the day, the Aussie declined 75 pips from 0.9300 priced overnight to test the 0.9230 area; however after a brief period of consolidation, the AUD/USD bounced back to trade above 0.9250 in the American session.
Aussie bulls got a huge disappointment past Asian session, when the pair faltered again around 0.9300 following RBA’s economic policy meeting. Having left rates unchanged, the wording was a bit dovish, with growth below its trend in 2013 and some veiled concerns over the currency strength.
Currently, AUD/USD is trading at 0.9250, down -0.12% on the day, having posted a daily high at 0.9306 and low at 0.9230. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
Ryan Littlestone from ForexLive.com published an update on AUD/USD orders: "Offers at 0.9270, 0.9280, 0.9310, Stops thru 0.9320, offers ahead of barriers at 0.9350 and 0.9400 Bids 0.9200, 0.9150, stops thru 0.9120."
AUD/USD levels
With spot trading at 0.9253, we can see next resistance ahead at 0.9254 (Daily Classic PP), 0.9255 (Hourly 20 EMA), 0.9264 (Monthly High), 0.9264 (Weekly High) and 0.9264 (YTD High). Support below can be found at 0.9250 (Hourly 100 SMA), 0.9230 (Daily Low), 0.9227 (Daily Classic S1), 0.9218 (Yesterday's Low) and 0.9198 (Weekly Classic PP).
Aussie bulls got a huge disappointment past Asian session, when the pair faltered again around 0.9300 following RBA’s economic policy meeting. Having left rates unchanged, the wording was a bit dovish, with growth below its trend in 2013 and some veiled concerns over the currency strength.
Currently, AUD/USD is trading at 0.9250, down -0.12% on the day, having posted a daily high at 0.9306 and low at 0.9230. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
Ryan Littlestone from ForexLive.com published an update on AUD/USD orders: "Offers at 0.9270, 0.9280, 0.9310, Stops thru 0.9320, offers ahead of barriers at 0.9350 and 0.9400 Bids 0.9200, 0.9150, stops thru 0.9120."
AUD/USD levels
With spot trading at 0.9253, we can see next resistance ahead at 0.9254 (Daily Classic PP), 0.9255 (Hourly 20 EMA), 0.9264 (Monthly High), 0.9264 (Weekly High) and 0.9264 (YTD High). Support below can be found at 0.9250 (Hourly 100 SMA), 0.9230 (Daily Low), 0.9227 (Daily Classic S1), 0.9218 (Yesterday's Low) and 0.9198 (Weekly Classic PP).