FXstreet.com (San Francisco) - AUD/USD continues to trade at the upper boundary of channel resistance this Monday in Asia, last at 1.0465 vs. 1.0480 as trading in Tokyo gets underway.
“While the rally may continue over the upcoming weeks, the hourly chart shows price giving up some ground as RSI turns flat around 70: current corrective movement will find immediate support at 1.0440 former monthly high,” comments Valeria Bedanrik, Chief Analyst at FXstreet.com. “Expect buyers to show around 1.0440, and a stronger buying interest if price reaches 1.0400 area.”
June HIA New Home Sales will be released by the Housing Industry Association at 01:00 GMT, and will serve as key risk event for AUD during the Asia-Pacific session. Beyond the mentioned 1.0440 and 1.0400 levels, further support is noted at 1.0360. To the upside, resistance levels lie at 1.0480, 1.0510 and 1.0550.
“While the rally may continue over the upcoming weeks, the hourly chart shows price giving up some ground as RSI turns flat around 70: current corrective movement will find immediate support at 1.0440 former monthly high,” comments Valeria Bedanrik, Chief Analyst at FXstreet.com. “Expect buyers to show around 1.0440, and a stronger buying interest if price reaches 1.0400 area.”
June HIA New Home Sales will be released by the Housing Industry Association at 01:00 GMT, and will serve as key risk event for AUD during the Asia-Pacific session. Beyond the mentioned 1.0440 and 1.0400 levels, further support is noted at 1.0360. To the upside, resistance levels lie at 1.0480, 1.0510 and 1.0550.
