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21 Apr 2014
AUD/USD hourly/daily neutral bias
FXStreet (Guatemala) - AUD/USD is trading at 0.9335, down -0.03% on the day, having posted a daily high at 0.9349 and low at 0.9315.
AUD/USD 2014 outlook
Jonathan Cavenagh, strategist at Westpac Banking Corporation ABN, explained that they were in China last week visiting many of their key clients in Shanghai and Beijing. Overall, he explained, most clients had sympathy for their view that AUD/USD should trend down as we progress through the rest of 2014. Meanwhile, this week sees CPI for Australia and we should finally see some price action around that release.
AUD/USD hourly/daily neutral
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish. At the time of writing, RSI is neutral at 50.09, down from 53.89 at the last hour close, while ADX is ranging at 10.62, down from 15.63 previous. Meanwhile, daily RSI is in neutral territory at 60.16. On the hourly AUD/USD chart, the 200 SMA is declining and currently at 0.9331, down from the previous hour close at 0.9372. On average, the exponential closing price for the past 20 days is 0.9290, with the trend indicating a continuation higher ahead.
AUD/USD Levels (note Doji formation)
With spot trading at 0.9338, we can see next resistance ahead at 0.9345 (Yesterday's High), 0.9347 (Hourly 100 SMA), 0.9348 (Daily Classic R1), 0.9349 (Daily High) and 0.9357 (Daily Classic R2). Support below can be found at 0.9336 (Daily Open), 0.9335 (Daily Classic PP), 0.9332 (Hourly 20 EMA), 0.9329 (Weekly Low) and 0.9326 (Daily Classic S1). Looking to candlestick patterns, we can see a Doji formation on the 4-hour chart.
AUD/USD 2014 outlook
Jonathan Cavenagh, strategist at Westpac Banking Corporation ABN, explained that they were in China last week visiting many of their key clients in Shanghai and Beijing. Overall, he explained, most clients had sympathy for their view that AUD/USD should trend down as we progress through the rest of 2014. Meanwhile, this week sees CPI for Australia and we should finally see some price action around that release.
AUD/USD hourly/daily neutral
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish. At the time of writing, RSI is neutral at 50.09, down from 53.89 at the last hour close, while ADX is ranging at 10.62, down from 15.63 previous. Meanwhile, daily RSI is in neutral territory at 60.16. On the hourly AUD/USD chart, the 200 SMA is declining and currently at 0.9331, down from the previous hour close at 0.9372. On average, the exponential closing price for the past 20 days is 0.9290, with the trend indicating a continuation higher ahead.
AUD/USD Levels (note Doji formation)
With spot trading at 0.9338, we can see next resistance ahead at 0.9345 (Yesterday's High), 0.9347 (Hourly 100 SMA), 0.9348 (Daily Classic R1), 0.9349 (Daily High) and 0.9357 (Daily Classic R2). Support below can be found at 0.9336 (Daily Open), 0.9335 (Daily Classic PP), 0.9332 (Hourly 20 EMA), 0.9329 (Weekly Low) and 0.9326 (Daily Classic S1). Looking to candlestick patterns, we can see a Doji formation on the 4-hour chart.