Filed Under:
Forex pairs in this Article » AUD/USD (Barcelona) - AUDUSD has recently retraced a bit last at 1.0563 in early Asia-Pacific trade, about 1 hour time away from key domestic data for Australia and the RBA in the form of 4Q December CPI due at 00:30 GMT, with estimates looking at a figure around the 0.6-0.7%. The pair has printed a session high at 1.0575.

According to Valeria Bednarik, Chief Analyst at the AUDUSD is: "consolidating near its 2 week high despite hourly chart presents some bearish divergences, as momentum heads south nearing its midline. In the same time frame however, price stands above a strongly bullish 20 SMA, which suggest bears will still have to wait. In the 4 hours indicators hold positive territory while 20 SMA slowly turns up below current price, all of which suggests the pair may attempt a retest of the 1.0600 area," Valeria concludes, adding: "However, only once above this last the bulls will lead, with scope then to extend towards the 1.0660 price zone."

The analyst sees support levels at: 1.0550, 1.0520 and 1.0490, while resistance levels at: 1.0575, 1.0600 and 1.0660.
comments powered by Disqus