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6 Aug 2013
CORRECTION: AUD/USD breaks above 0.8950 as RBA cuts
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last trading at 0.8943 off recent session highs at 0.8965 following the cut in rates by the RBA by 25bp to 2.5%.
AUD/USD steady gains above 0.8950
According to Valeria Bednarik, Chief Analyst at Fxstreet.com “the hourly chart shows price barely above a flat 20 SMA while indicators stand in positive territory, although also flat. In the 4 hours chart price stands around its 20 SMA, while indicators already corrected extreme oversold levels reached past Friday. Some steady gains above 0.8950 may see the pair advancing further towards 0.9000 price zone, where selling interest is expected to resume.”
AUD/USD key technical levels
Bednarik finds support levels at: 0.8910, 0.8870 and 0.8835, while resistance levels: 0.8950, 0.9090 and 0.9035.
AUD/USD steady gains above 0.8950
According to Valeria Bednarik, Chief Analyst at Fxstreet.com “the hourly chart shows price barely above a flat 20 SMA while indicators stand in positive territory, although also flat. In the 4 hours chart price stands around its 20 SMA, while indicators already corrected extreme oversold levels reached past Friday. Some steady gains above 0.8950 may see the pair advancing further towards 0.9000 price zone, where selling interest is expected to resume.”
AUD/USD key technical levels
Bednarik finds support levels at: 0.8910, 0.8870 and 0.8835, while resistance levels: 0.8950, 0.9090 and 0.9035.