Back
27 Feb 2014
AUD/USD feeling the pinch
FXStreet (Guatemala) - AUD/USD has been weighed on by increasing risk aversion amid political tensions and the uncertainty surrounding China of late. US New House Sales underpinned the strength in the US dollar while markets moved across to it on risk aversion in respect of Russia and the Ukrainian situation.
From earlier in the week, when AUD/USD made a small rebound from the 55 day ma at 0.8915 and the 20 day ma at 0.8959, AUD/USD dropped from the 0.9020 territory earlier in the European session and followed on in the US after landing heavily in the 0.8980’s with a follow through right down into the 0.8940’s. Karen Jones, chief analyst at Commerzbank noted that there is minor support 0.8945/18, but said to consider that the support at 0.8825 (December low) is guarding the key support at 0.8683/0.8660 (the 2011-2014 channel base, the 38.2% retracement of the move from 2001 to 2011 and the recent low).
AUD/USD Levels
The 20 DMA is 0.8945, the 50 DMA is 0.8906 and the 200 DMA is 0.9194. RSI (14) reads 58.45. Next supports are ascending from 0.8873, 0.8896, 0.8907, 0.8927 and 0.8945. Spot is 0.8957 while resistances are 0.9050, 0.9087, 0.9169 and 0.9204.
From earlier in the week, when AUD/USD made a small rebound from the 55 day ma at 0.8915 and the 20 day ma at 0.8959, AUD/USD dropped from the 0.9020 territory earlier in the European session and followed on in the US after landing heavily in the 0.8980’s with a follow through right down into the 0.8940’s. Karen Jones, chief analyst at Commerzbank noted that there is minor support 0.8945/18, but said to consider that the support at 0.8825 (December low) is guarding the key support at 0.8683/0.8660 (the 2011-2014 channel base, the 38.2% retracement of the move from 2001 to 2011 and the recent low).
AUD/USD Levels
The 20 DMA is 0.8945, the 50 DMA is 0.8906 and the 200 DMA is 0.9194. RSI (14) reads 58.45. Next supports are ascending from 0.8873, 0.8896, 0.8907, 0.8927 and 0.8945. Spot is 0.8957 while resistances are 0.9050, 0.9087, 0.9169 and 0.9204.