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Aug 18, 2014
AUD/USD: Bulls need to break 0.9330
FXStreet (Bali) - AUD/USD is marginally higher in early Asia, currently at 0.9320 session high, after rebounding off 0.93 round number last Friday.
The pair has been recovering some of its major losses printed in recent weeks, although the key resistance at 0.9330 still represent a tough area to overcome at present.
For this week, the RBA monetary policy minutes on Tuesday, RBA's Stevens speech later that same day, the FOMC July 29-30 policy meeting on Wednesday, and the Jackson Hold central banker symposium on Friday, will be the key events to watch.
Technically, according to Valeria Bednarik, Chief Analyst at FXStreet: "The hourly chart shows price hovering around a flat 20 SMA and indicators retracing from their midlines; in the 4 hours chart however, 20 SMA maintains a strong bullish slope acting as short term support around 0.9300 while indicators hold in neutral territory as per recent range."
"The levels to watch are 0.9330 to the upside and 0.9260 to the downside, as it will take a clear break of any to confirm some directional strength for the upcoming days", Valeria adds.
The pair has been recovering some of its major losses printed in recent weeks, although the key resistance at 0.9330 still represent a tough area to overcome at present.
For this week, the RBA monetary policy minutes on Tuesday, RBA's Stevens speech later that same day, the FOMC July 29-30 policy meeting on Wednesday, and the Jackson Hold central banker symposium on Friday, will be the key events to watch.
Technically, according to Valeria Bednarik, Chief Analyst at FXStreet: "The hourly chart shows price hovering around a flat 20 SMA and indicators retracing from their midlines; in the 4 hours chart however, 20 SMA maintains a strong bullish slope acting as short term support around 0.9300 while indicators hold in neutral territory as per recent range."
"The levels to watch are 0.9330 to the upside and 0.9260 to the downside, as it will take a clear break of any to confirm some directional strength for the upcoming days", Valeria adds.