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AUD/USD remains consolidated in neutral territory

FXStreet (Guatemala) - AUD/USD is trading at 0.8722, down -0.04% on the day, having posted a daily high at 0.8730 and low at 0.8721.

AUD/USD is back into neutral territory on 0.8720 after dropping to the lows following yet further dovish talk from Stevens of late. The pair has been choppy and the greenback was supported on the PPI results that prevented a full scale rally in the Aussie.

Valeria Bednarik noted that in the 4 hours chart the technical picture is quite alike, with price moving back and forth around an horizontal 20 SMA and indicators turning lower around their midlines. “The pair may be developing the second shoulder of a H&S figure, suggesting some short term upward continuation towards 0.8770 area, albeit price needs to be rejected from it and break below the 0.8640 strong static support to confirm it”.

AUD/USD noteworthy levels

Current price is 0.8723, with resistance ahead at 0.8723 (Hourly 100 SMA), 0.8724 (Hourly 20 EMA), 0.8726 (Daily 20 SMA) and 0.8730. Next support to the downside can be found at 0.8721, 0.8708 (Weekly Classic PP), 0.8697, 0.8682 and 0.8679 (Hourly 200 SMA).

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