FXstreet.com (Barcelona) - Aussie is back to where it finished last week against USD, last at 1.0373, recovering from a weekly low late Monday at a double intraday low 1.0326. The pair stalled the rise Tuesday during mid London session at the weekly high so far 1.0383, ahead of a historical second day halt for US markets due to Hurricane Sandy. Risk event for AUD/USD today will come at 00:30 GMT in the form of Australia building approvals, expected to be in the positive.
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, the Aussie is “holding a short term bullish stance according to the hourly chart, with indicators in positive territory, and 20 SMA heading higher and offering dynamic support around current level.” The analyst continues: “In the 4 hours chart, range persist: pair is trapped in a 100 pips range hovering around a flat 20 SMA, while indicators stand in neutral territory. The pair may gain some upward momentum only if the 1.0410 resistance area gives up and price manages to stand above it,” Valeria concludes.
The analyst finds support levels at: 1.0360, 1.0330, and 1.0300, while resistance levels show at: 1.0380, 1.0410, and 1.0445.
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, the Aussie is “holding a short term bullish stance according to the hourly chart, with indicators in positive territory, and 20 SMA heading higher and offering dynamic support around current level.” The analyst continues: “In the 4 hours chart, range persist: pair is trapped in a 100 pips range hovering around a flat 20 SMA, while indicators stand in neutral territory. The pair may gain some upward momentum only if the 1.0410 resistance area gives up and price manages to stand above it,” Valeria concludes.
The analyst finds support levels at: 1.0360, 1.0330, and 1.0300, while resistance levels show at: 1.0380, 1.0410, and 1.0445.
