Forex: AUD/USD falls below 1.0400
FXstreet.com (Barcelona) - The AUDUSD has lost its grip on the 1.0400 level after easing off a session high at 1.0411, established earlier today during Asian trading. Despite this move, the pair is still trading in positive territory during a muted trading session, settling presently at 1.0381/82. At this juncture, the cross has secured an advance of +0.12% above its opening.
From a technical point of view, the AUDUSD is slated to face calculated resistance at 1.0394, onto 1.0413 and finally 1.0437. Should the pair retreat or falter, supportive means lie at 1.0370, followed by 1.0352 and 1.0327.
"The market appears to have a bullish bias in the AUDUSD with Bearish Harami well resisted by 1.0394. Given that we have a low level bearish reversal pattern it would be best to look for a confirming black candlestick before jumping short." writes Mark De La Paz, an analyst at FX Instructor.
From a technical point of view, the AUDUSD is slated to face calculated resistance at 1.0394, onto 1.0413 and finally 1.0437. Should the pair retreat or falter, supportive means lie at 1.0370, followed by 1.0352 and 1.0327.
"The market appears to have a bullish bias in the AUDUSD with Bearish Harami well resisted by 1.0394. Given that we have a low level bearish reversal pattern it would be best to look for a confirming black candlestick before jumping short." writes Mark De La Paz, an analyst at FX Instructor.
Free Annual Reports
