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8 Mar 2013
Forex: AUD/USD still capped below 1.0290
AUD/USD is last at 1.0269, off NY and daily highs at 1.0290, unable to break above the 1.0300 mark, where market sources reported strong selling interest on Wednesday post Australian GDP, data in line with expected. Aussie ASX index is slightly higher for the day so far above 5100 points mark, up +0.16%, following a +0.18% increase in US SP500 index. Oil gained +0.95% at the NY close.
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The hourly chart shows a limited bullish tone with price right above 20 SMA and indicators flat in positive territory; in the 4 hours chart, momentum diverges to the downside still but remains in positive territory,” she notes, adding: “The pair needs to move beyond the 1.0220/0300 range o set a clearer trend with the upside favor as per market positive mood,” the analyst concludes.
Valeria spots support levels at: 1.0250, 1.0220 and 1.0180, while resistance levels at: 1.0300, 1.0335 and 1.0360.
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The hourly chart shows a limited bullish tone with price right above 20 SMA and indicators flat in positive territory; in the 4 hours chart, momentum diverges to the downside still but remains in positive territory,” she notes, adding: “The pair needs to move beyond the 1.0220/0300 range o set a clearer trend with the upside favor as per market positive mood,” the analyst concludes.
Valeria spots support levels at: 1.0250, 1.0220 and 1.0180, while resistance levels at: 1.0300, 1.0335 and 1.0360.