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AUD/USD consolidates ahead of further key releases

FXStreet (Guatemala) - AUD/USD is trading at 0.9343, down -0.03% on the day, having posted a daily high at 0.9349 and low at 0.9337.

With a nice advance on the 0.93 level post the better than expected Australian GDP readings, we enter a consolidation phase as markets hold tight before key release again from Australia today and of course looking ahead to that from the US in the form of jobs data. Meanwhile, as Valeria Bednarik, Chief analyst at FXStreet describes, the hourly chart shows indicators flat in extreme overbought levels, not yet suggesting a downward correction with 20 SMA advancing strongly below current price. “In the 4 hours chart price also stands above its 20 SMA but indicators lost upward potential and turned flat around their midlines, reflecting latest lack of direction. Price needs to extend beyond 0.9370 immediate resistance to confirm a stronger recovery, eyeing then 0.9460 price zone”.

AUD/USD support resistance levels

Support levels: 0.9330 0.9300 0.9260

Resistance levels: 0.9370 0.9410 0.9460

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