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29 Jul 2014
AUD/USD unlikely to see a recovery of 0.95 handle
FXStreet (Guatemala) - AUD/USD is trading at 0.9381, down -0.25% on the day, having posted a daily high at 0.9418 and low at 0.9374.
AUD/USD remains with a dull sideways grind, trading in a narrow range after losing the 0.94 handle. Karen Jones, analyst at Commerzbank notes that the Elliott counts are neutral to negative and they suspect that we are now less likely to see a recovery to the 0.9505 July high and 0.9523 Fibonacci retracement.
AUD/USD Levels
With spot trading at 0.9382, we can see next resistance ahead at 0.9392 (Hourly 20 EMA) and 0.9396 (Daily 20 SMA). Support below can be found at 0.9374 (Daily Low), 0.9356 (Daily Classic S3) and 0.9344 (Weekly Classic S1).
AUD/USD remains with a dull sideways grind, trading in a narrow range after losing the 0.94 handle. Karen Jones, analyst at Commerzbank notes that the Elliott counts are neutral to negative and they suspect that we are now less likely to see a recovery to the 0.9505 July high and 0.9523 Fibonacci retracement.
AUD/USD Levels
With spot trading at 0.9382, we can see next resistance ahead at 0.9392 (Hourly 20 EMA) and 0.9396 (Daily 20 SMA). Support below can be found at 0.9374 (Daily Low), 0.9356 (Daily Classic S3) and 0.9344 (Weekly Classic S1).