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28 Aug 2014
AUD/USD indicators flat ahead of Aus Capex data
FXStreet (Guatemala) - AUD/USD is trading at 0.9335, down -0.02% on the day, having posted a daily high at 0.9341 and low at 0.9332.
AUD/USD has been a good performer overnight on softer US yields, while ahead of data from Australia, the technical picture is still bullish in the short term as highlighted by Valeria Bednarik, chief analyst at FXStreet. She explains that the pair lacks momentum, as price holds above a bullish 20 SMA but indicators are flat. “In the 4 hours chart the picture is exactly the same, bullish but lacking strength. As long as above 0.9330 downward risk will remain limited yet if the pair breaks below the level again, bears will likely took their chances and push price back below the 0.9300 mark”. From Australia, Q2 Capex is out at 01:30 GMT. The consensus is for a drop of -0.9% that could put pressure on the AUD.
AUD/USD support and resistance levels
Support levels: 0.9330 0.9300 0.9260
Resistance levels: 0.9370 0.9410 0.9450
AUD/USD has been a good performer overnight on softer US yields, while ahead of data from Australia, the technical picture is still bullish in the short term as highlighted by Valeria Bednarik, chief analyst at FXStreet. She explains that the pair lacks momentum, as price holds above a bullish 20 SMA but indicators are flat. “In the 4 hours chart the picture is exactly the same, bullish but lacking strength. As long as above 0.9330 downward risk will remain limited yet if the pair breaks below the level again, bears will likely took their chances and push price back below the 0.9300 mark”. From Australia, Q2 Capex is out at 01:30 GMT. The consensus is for a drop of -0.9% that could put pressure on the AUD.
AUD/USD support and resistance levels
Support levels: 0.9330 0.9300 0.9260
Resistance levels: 0.9370 0.9410 0.9450