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28 Mar 2014
AUD/USD a near term consolidation
FXStreet (Guatemala) - AUD is a double bottom on 0.9240 for the day and is moving in o the close over two big figures higher on the week.
AUD/USD has been a slow paced 20 pip range on the final day of the week. Meanwhile, strategists at RBS explained it is clear that the RBA feels that a weaker FX rate would assist in achieving balanced growth in the economy and they explained “Price action today around the 0.9282 resistance, which was a prior double bottom in late 2013, is discouraging and may mean a near-term consolidation is imminent with the pair approaching overbought on both the 14-day RSI and Bollinger Bank technical indicators”.
AUD/USD Levels
The 20 DMA is 0.9058, the 50 DMA is 0.8964 and the 200 DMA is 0.9137. RSI (14) reads 47.02. Supports are ascending from 0.9105, 0.9136, 0.9155 and 0.9214. Spot is 0.9244 while resistances are 0.9316, 0.9342, 0.9378 and 0.9408.
AUD/USD has been a slow paced 20 pip range on the final day of the week. Meanwhile, strategists at RBS explained it is clear that the RBA feels that a weaker FX rate would assist in achieving balanced growth in the economy and they explained “Price action today around the 0.9282 resistance, which was a prior double bottom in late 2013, is discouraging and may mean a near-term consolidation is imminent with the pair approaching overbought on both the 14-day RSI and Bollinger Bank technical indicators”.
AUD/USD Levels
The 20 DMA is 0.9058, the 50 DMA is 0.8964 and the 200 DMA is 0.9137. RSI (14) reads 47.02. Supports are ascending from 0.9105, 0.9136, 0.9155 and 0.9214. Spot is 0.9244 while resistances are 0.9316, 0.9342, 0.9378 and 0.9408.