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31 Mar 2014
AUD/USD struggles to extend gains beyond 0.9280
FXStreet (Guatemala) - Currently, AUD/USD is trading at 0.9271, up 0.28% on the day, having posted a daily high at 0.9280 and low at 0.9218.
AUD awaits RBA
The RBA decision is due and we do not expect any meaningful changes to the statement or the neutral outlook for the policy rate. The AUD has risen since the RBA last met in early March, but Governor Stevens did not use his March 26th speech to increase rhetoric about the strength of the AUD.
AUD overbought
AUD/USD spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. RSI is in neutral territory at 68.74, up from it’s last hourly close at 64.85, while ADX is trending above 30 at 36.10, up from 23.41 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 67.97. The 200 SMA is currently at 0.9253, up from 0.9154 at the last period close, and climbing on the hourly AUD/USD chart. Moving in an upward trend, the exponential average closing price is 0.9099.
AUD/USD Levels
With spot trading at 0.9274, we can see next resistance ahead at 0.9280 (Daily High), 0.9285 (Daily Classic R1), 0.9297 (Yesterday's High), 0.9321 (Daily Classic R2) and 0.9346 (Daily Classic R3). Support below can be found at 0.9260 (Daily Classic PP), 0.9259 (Monthly High), 0.9259 (Weekly High), 0.9259 (YTD High) and 0.9245 (Hourly20 EMA).
AUD awaits RBA
The RBA decision is due and we do not expect any meaningful changes to the statement or the neutral outlook for the policy rate. The AUD has risen since the RBA last met in early March, but Governor Stevens did not use his March 26th speech to increase rhetoric about the strength of the AUD.
AUD overbought
AUD/USD spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. RSI is in neutral territory at 68.74, up from it’s last hourly close at 64.85, while ADX is trending above 30 at 36.10, up from 23.41 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 67.97. The 200 SMA is currently at 0.9253, up from 0.9154 at the last period close, and climbing on the hourly AUD/USD chart. Moving in an upward trend, the exponential average closing price is 0.9099.
AUD/USD Levels
With spot trading at 0.9274, we can see next resistance ahead at 0.9280 (Daily High), 0.9285 (Daily Classic R1), 0.9297 (Yesterday's High), 0.9321 (Daily Classic R2) and 0.9346 (Daily Classic R3). Support below can be found at 0.9260 (Daily Classic PP), 0.9259 (Monthly High), 0.9259 (Weekly High), 0.9259 (YTD High) and 0.9245 (Hourly20 EMA).