28 Oct 2013
AUD/USD climbs to fresh daily highs
FXstreet.com (Córdoba) - The AUD/USD advanced somewhat Monday, climbing back above the 0.9600 mark and erasing Friday's losses.
AUD/USD finds resistance at 200-hour SMA
The Aussie rose to a daily high of 0.9622 during the European session before the 200-hour SMA offered resistance. However the AUD/USD, as most crosses in the FX market, has entered in a consolidative stage and remains within familiar ranges ahead of the Fed meeting on Wednesday and a string of US data. Locally, a speech by Reserve Bank Governor Glenn Stevens Tuesday will be closely watched after he said last week the AUD looks overvalued at current levels.
AUD/USD levels to watch
At time of writing, AUD/USD is trading at the 0.9615 area, still up 0.3% on the day, with immediate resistances at 0.9622 (daily high) and 0.9670 (Oct 24 high), while supports could be found at 0.9570 (Oct 24 & 25 lows) and 0.9525 (20-day SMA).
AUD/USD finds resistance at 200-hour SMA
The Aussie rose to a daily high of 0.9622 during the European session before the 200-hour SMA offered resistance. However the AUD/USD, as most crosses in the FX market, has entered in a consolidative stage and remains within familiar ranges ahead of the Fed meeting on Wednesday and a string of US data. Locally, a speech by Reserve Bank Governor Glenn Stevens Tuesday will be closely watched after he said last week the AUD looks overvalued at current levels.
AUD/USD levels to watch
At time of writing, AUD/USD is trading at the 0.9615 area, still up 0.3% on the day, with immediate resistances at 0.9622 (daily high) and 0.9670 (Oct 24 high), while supports could be found at 0.9570 (Oct 24 & 25 lows) and 0.9525 (20-day SMA).