OctaFX | OctaFX Forex Broker
Open trading account

AUD/USD consolidating with bearish bias

FXStreet (Moscow) - AUD/USD  is trading marginally above the opening level (0.8755) after having moved within a broad range limited by 0.8790 on the upside and 0.8732 on the downside during Asian hours

It’s been a crazy week for Aussie. The pair finished Thursday at 0.8756 off the intraday low at 0.8685. While the movement above 0.8800 was not sustained, a weekly close above 0.8750/60 can improve the longer-term technical picture. Doji followed by a bullish candle in weekly charts suggest that the pair has bottomed out and more upside is on cards. Later during the day keep an eye at USD sentiments as they would shape Aussie’s fate by the end of the week. Market attitudes towards risky assets and commodity markets may play their role, but, again, through the USD strength.

What are today’s key AUD/USD levels? 

Today's central pivot point can be found at 0.8758, with support below at 0.8685, 0.8612 and 0.8539 with resistance above at 0.8831, 0.8904 and 0.8977. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.8768 and the daily 20EMA flat at 0.8828. Hourly RSI is bearish at 45.

USD/JPY bulls lack motivation

USD/JPY retraced from Asian high at 106.49 and settled at 106.18; the short-term bearish bias remains entrenched as long as the pair trades below 106.30
Read more Previous

What’s the sentiment around EUR/USD today? – Danske Bank and Commerzbank

EUR/USD is hovering over the key barrier at 1.2800 at the end of week, extending the overnight consolidation pattern...
Read more Next
Start livechat