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19 Mar 2014
AUD/USD finds support sub-0.9100
FXStreet (Córdoba) - The AUD/USD is staging a pullback from its 3-month high of 0.9137 scored during the Asian session, moving in tandem with gold that is also in retreat.
The AUD/USD came under pressure Wednesday and even fell below the 0.9100 mark, although briefly, amid broad USD strength ahead of the Federal Reserve verdict. At time of writing, the AUD/USD is trading at the 0.9105 zone, recording a 0.2% loss on the day and with a low set at 0.9094 so far.
AUD/USD technical outlook
From a technical perspective, "the hourly chart shows price below its 20 SMA and indicators presenting a mild bearish tone in neutral territory, more suggesting a pause before a new leg up than a top", says Valeria Bednarik, chief analyst at FXStreet. "In the 4 hours chart the bullish tone remains healthy, albeit a clear confirmation above 0.9130 is required to see a new leg up".
The AUD/USD came under pressure Wednesday and even fell below the 0.9100 mark, although briefly, amid broad USD strength ahead of the Federal Reserve verdict. At time of writing, the AUD/USD is trading at the 0.9105 zone, recording a 0.2% loss on the day and with a low set at 0.9094 so far.
AUD/USD technical outlook
From a technical perspective, "the hourly chart shows price below its 20 SMA and indicators presenting a mild bearish tone in neutral territory, more suggesting a pause before a new leg up than a top", says Valeria Bednarik, chief analyst at FXStreet. "In the 4 hours chart the bullish tone remains healthy, albeit a clear confirmation above 0.9130 is required to see a new leg up".