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18 Feb 2014
AUD/USD ends flats, hovering around 0.9030
FXStreet (Córdoba) - The AUD/USD finished Tuesday practically unchanged on a swing day, hovering around 0.9030.
During yesterday’s Asian session the pair rose after the release of the RBA minutes and traded above 0.9070 but it was rejected and weakened. As the US dollar gained momentum on European hours the pair dropped finding support at 0.9000. From there bounced to the upside during the American session but it was unable to break above 0.9050.
Outlook for the AUD/USD
According to Valeria Bednarik, Chief Analyst at FXStreet, from a technical perspective the hourly chart maintains a pretty neutral stance, giving not much clues on direction in the short term. “The 4 hours chart shows price above its 20 SMA and indicators holding above their midlines albeit lacking strength.
A key area to watch is 0.8990 affirms Bednarik, suggesting that bulls will remains in control as long as the price holds above.
During yesterday’s Asian session the pair rose after the release of the RBA minutes and traded above 0.9070 but it was rejected and weakened. As the US dollar gained momentum on European hours the pair dropped finding support at 0.9000. From there bounced to the upside during the American session but it was unable to break above 0.9050.
Outlook for the AUD/USD
According to Valeria Bednarik, Chief Analyst at FXStreet, from a technical perspective the hourly chart maintains a pretty neutral stance, giving not much clues on direction in the short term. “The 4 hours chart shows price above its 20 SMA and indicators holding above their midlines albeit lacking strength.
A key area to watch is 0.8990 affirms Bednarik, suggesting that bulls will remains in control as long as the price holds above.