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7 Nov 2014
AUD/USD a little better off in the bears layer
FXStreet (Guatemala) - AUD/USD is trading at 0.8635, up 0.82% on the day, having posted a daily high at 0.8659 and low at 0.8541.
AUD/USD is finishing better off, with a decent rally into less negative territory at the close of the week up over a cent. Analysts at TD Securities are bearish on the matter of this pair and explained that the AUD/USD’s performance this week implies more AUD weakness ahead. “The break below the October range/bear wedge base and support in the mid/upper 0.86s suggests a resumption of the broader bear move and a repetition of the scale of the September/October 0.94/0.8650 move down from the breakdown point. That implies a test of 0.79 in the next 1-3 months”.
AUD/USD noteworthy levels
Current price is 0.8635, with resistance ahead at 0.8645 (Hourly 100 SMA), 0.8658 (Daily Classic R2), 0.8659 (Daily High), 0.8664 (Weekly Classic S2) and 0.8687 (Daily Classic R3). Next support to the downside can be found at 0.8629 (Yesterday's High), 0.8611 (Daily Classic R1), 0.8594 (Hourly 20 EMA), 0.8582 (Daily Classic PP) and 0.8574 (Weekly Classic S3).
AUD/USD is finishing better off, with a decent rally into less negative territory at the close of the week up over a cent. Analysts at TD Securities are bearish on the matter of this pair and explained that the AUD/USD’s performance this week implies more AUD weakness ahead. “The break below the October range/bear wedge base and support in the mid/upper 0.86s suggests a resumption of the broader bear move and a repetition of the scale of the September/October 0.94/0.8650 move down from the breakdown point. That implies a test of 0.79 in the next 1-3 months”.
AUD/USD noteworthy levels
Current price is 0.8635, with resistance ahead at 0.8645 (Hourly 100 SMA), 0.8658 (Daily Classic R2), 0.8659 (Daily High), 0.8664 (Weekly Classic S2) and 0.8687 (Daily Classic R3). Next support to the downside can be found at 0.8629 (Yesterday's High), 0.8611 (Daily Classic R1), 0.8594 (Hourly 20 EMA), 0.8582 (Daily Classic PP) and 0.8574 (Weekly Classic S3).