29 Apr 2015
AUD/USD sees further upside potential – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, AUD/USD might make a move higher towards 0.8160, with technicals favouring the ongoing upside strength.
Key Quotes
“The AUD/USD trades above the 0.8000 level, maintaining the bullish potential seen earlier this week. The strong comeback in metals, with gold and iron-ore prices sharply higher on Tuesday, are supporting the Aussie, alongside with Chinese stimulus.”
“Technically, the 1 hour chart shows that the price advances above its 20 SMA whilst the technical indicators crossed their mid-lines towards the upside, favoring the ongoing upward strength.”
“In the 4 hours chart the technical indicators are also heading higher despite being in overbought territory, all of which suggest the pair can extend up to 0.8160 during the upcoming sessions, a key midterm resistance level."
“Support levels: 0.7990 0.7940 0.7900”
“Resistance levels: 0.8065 0.8100 0.8130”
Key Quotes
“The AUD/USD trades above the 0.8000 level, maintaining the bullish potential seen earlier this week. The strong comeback in metals, with gold and iron-ore prices sharply higher on Tuesday, are supporting the Aussie, alongside with Chinese stimulus.”
“Technically, the 1 hour chart shows that the price advances above its 20 SMA whilst the technical indicators crossed their mid-lines towards the upside, favoring the ongoing upward strength.”
“In the 4 hours chart the technical indicators are also heading higher despite being in overbought territory, all of which suggest the pair can extend up to 0.8160 during the upcoming sessions, a key midterm resistance level."
“Support levels: 0.7990 0.7940 0.7900”
“Resistance levels: 0.8065 0.8100 0.8130”