Forex forecast

AUD/USD Current price: 0.9465

10.04.2014 18:25:58

Aussie soared to 0.9460 against the greenback on better than expected employment Australian figures, but began to correct lower afterwards, and remains under pressure in the short term: the hourly chart shows price struggling around a bullish 20 SMA at the 0.9400 figure, while indicators head strongly down approaching their midlines. In the 4 hours chart indicators correct lower from overbought levels, also suggesting the pair may extend its decline albeit the dominant trend is still bullish and selling is not recommended unless a break below 0.9260 support zone.

Support levels: 0.9370 0.9330 0.9290

Resistance levels: 0.9445 0.9485 0.9525