9 Dec 2014
AUD/USD breaching back into neutral territory
FXStreet (Guatemala) - AUD/USD is trading at 0.8312, up 0.26% on the day, having posted a daily high at 0.8314 and low at 0.8224.
AUD/USD has risen up through the 0.83 handle and trades just shy of yesterdays highs. The next events for the pair come in the form of Australian Consumer Confidence, Home Loans and then China’s CPI. The pair has been buoyed on a sell off across the board in the greenback and is riding that as we move further into year-end and ahead of the final FOMC.
Technically, the pair remains in bearish territory on a medium term basis with s strong Fib support at.7950/30. However, the momentum readings had slowed on the daily chart and we have moved into oversold conditions which brings in the Imoku 1 resistance at .8420 and downtrend at 0.8605, as noted by Karen Jones, chief analyst at Commerzbank. “ Key resistance remains to be seen at the October high at 0.8911. Risks are on the downside while trading below there medium term”.
AUD/USD has risen up through the 0.83 handle and trades just shy of yesterdays highs. The next events for the pair come in the form of Australian Consumer Confidence, Home Loans and then China’s CPI. The pair has been buoyed on a sell off across the board in the greenback and is riding that as we move further into year-end and ahead of the final FOMC.
Technically, the pair remains in bearish territory on a medium term basis with s strong Fib support at.7950/30. However, the momentum readings had slowed on the daily chart and we have moved into oversold conditions which brings in the Imoku 1 resistance at .8420 and downtrend at 0.8605, as noted by Karen Jones, chief analyst at Commerzbank. “ Key resistance remains to be seen at the October high at 0.8911. Risks are on the downside while trading below there medium term”.