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30 May 2014
AUD/USD keeps bullish tone in Asia
FXStreet (Bali) - AUD/USD is pressing against new weekly highs during the first hour of Tokyo, having printed its highest at 0.9317.
From a technical point of view, in view of Valeria Bednarik, Chief Analyst at FXStreet: "The pair broke and settled above 0.9270 and now immediate support, with the hourly chart showing a strong upward tone coming from 20 SMA and indicators recovering the upside after correcting all of their overbought conditions, which keeps the pair in the bullish track."
"In the 4 hours chart technical readings are also biased higher in positive territory, while price holds steady above a flat 20 SMA, first time in almost 2 weeks. There’s a strong static resistance around 0.9340 that needs to be broken to confirm an upward continuation, eyeing then a retest of this year highs around 0.9460", Valeria adds.
From a technical point of view, in view of Valeria Bednarik, Chief Analyst at FXStreet: "The pair broke and settled above 0.9270 and now immediate support, with the hourly chart showing a strong upward tone coming from 20 SMA and indicators recovering the upside after correcting all of their overbought conditions, which keeps the pair in the bullish track."
"In the 4 hours chart technical readings are also biased higher in positive territory, while price holds steady above a flat 20 SMA, first time in almost 2 weeks. There’s a strong static resistance around 0.9340 that needs to be broken to confirm an upward continuation, eyeing then a retest of this year highs around 0.9460", Valeria adds.