Back
25 Feb 2015
AUD/USD: Indicators offer strong upwards slopes
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7889 with a high of 0.7902 and a low of 0.7822.
AUD/USD is well placed for a trial of the 0.79 handle towards 0.7920 as first stop through the psychological level with RSI giving enough room for further advances while Yellen didn't offer markets any reason to get long of the greenback again again today.
Valeri Bednarik, chief analyst at FXStreet explained that in the 4 hours chart the technical indicators maintain strong upward slopes that support further advances. "In this last time frame, the 200 EMA acts as dynamic resistance around the mentioned high, having been capping the upside since July 2014. Therefore, additional advances above the level should signal an interim bottom has come into place, pointing for an extension towards the 0.8000 figure."
AUD/USD is well placed for a trial of the 0.79 handle towards 0.7920 as first stop through the psychological level with RSI giving enough room for further advances while Yellen didn't offer markets any reason to get long of the greenback again again today.
Valeri Bednarik, chief analyst at FXStreet explained that in the 4 hours chart the technical indicators maintain strong upward slopes that support further advances. "In this last time frame, the 200 EMA acts as dynamic resistance around the mentioned high, having been capping the upside since July 2014. Therefore, additional advances above the level should signal an interim bottom has come into place, pointing for an extension towards the 0.8000 figure."