Forex: AUD/USD flat over the weekend above 1.0450
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AUD/USD
FXstreet.com (Barcelona) - With SP500 futures opening at session lows barely above the 1400 round mark, and slightly USD strength across the board, AUDUSD is currently holding around Friday's close quote last at 1.0462, off recent fresh session highs at 1.0467. The pair is holding below Friday's 12-day fresh highs at 1.0470, bouncing from recent session lows at 1.0451.
As Valeria Bednarik, Chief Analyst at Fxstreet.com, notes: "While hourly indicators hold in overbought territory, they are back turning north after some limited correction, suggesting the pair can still extend higher," the analyst says. "In the 4 hours chart technical readings also point for more gains, with 1.0480 as immediate resistance level: once above, the pair may extend near 1.0550/600 before finding selling interest to halt the run," Valeria adds.
The analyst spots support levels at: 1.0445, 1.0410 and 1.0370, while resistance levels at: 1.0480, 1.0510 and 1.0550.
As Valeria Bednarik, Chief Analyst at Fxstreet.com, notes: "While hourly indicators hold in overbought territory, they are back turning north after some limited correction, suggesting the pair can still extend higher," the analyst says. "In the 4 hours chart technical readings also point for more gains, with 1.0480 as immediate resistance level: once above, the pair may extend near 1.0550/600 before finding selling interest to halt the run," Valeria adds.
The analyst spots support levels at: 1.0445, 1.0410 and 1.0370, while resistance levels at: 1.0480, 1.0510 and 1.0550.
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