Analytics

Forex forecast

AUD/USD Current price: 0.9355

09.04.2014 11:14:38

Trading at fresh 5 months highs, the AUD/USD enters Asian session still buoyed and near the mentioned high of 0.9366. The hourly chart shows indicators saturating flat in overbought territory as price extended its advance, while 20 SMA bullish slope extended up to 0.9330 price zone, now immediate support. In the 4 hours chart indicators stand in overbought territory also, looking slightly exhausted but far fr om suggesting a reversal. As long as above mentioned support, the pair may continue advancing, eyeing the 0.9445 level, past November 19th daily high. Once above this last, the path is almost clear up to 0.9520, wh ere some profit taking may trigger a bearish correction inside current bullish trend.

Support levels: 0.9330 0.9370 0.9240 

Resistance levels: 0.9390 0.9445 0.9485

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