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28 Mar 2014
AUD/USD making a break for it, 0.9289 high
FXStreet (Guatemala) - AUD/USD is clearing 0.9200 with an air of negative sentiment around the US dollar and the Elliott wave count on the 240 minute chart that had been implying an initial target of 0.9275.
AUD/USD is trying to clear tough resistance here. This break higher implies a deeper rally to 0.9338, according to Karen Jones, chief analyst at Commerzbank. “The 61.8% retracement and 0.9370 the 55 week ma introduces scope to 0.9448,the November high. “Dips need to break the support line at .9015 in order to alleviate upside pressure and while above here will remain bid. Support ahead of here lies at 0.9140/05”.
AUD/USD Levels
The 20 DMA is 0.9043, the 50 DMA is 0.8956 and the 200 DMA is 0.9137. RSI (14) reads 75.66. Supports are ascending from 0.9085, 0.9102, 0.9136, 0.9155,
0.9245 and 0.9260. Spot is 0.9278 and 0.9316 is next target ahead of 0.9338.
AUD/USD is trying to clear tough resistance here. This break higher implies a deeper rally to 0.9338, according to Karen Jones, chief analyst at Commerzbank. “The 61.8% retracement and 0.9370 the 55 week ma introduces scope to 0.9448,the November high. “Dips need to break the support line at .9015 in order to alleviate upside pressure and while above here will remain bid. Support ahead of here lies at 0.9140/05”.
AUD/USD Levels
The 20 DMA is 0.9043, the 50 DMA is 0.8956 and the 200 DMA is 0.9137. RSI (14) reads 75.66. Supports are ascending from 0.9085, 0.9102, 0.9136, 0.9155,
0.9245 and 0.9260. Spot is 0.9278 and 0.9316 is next target ahead of 0.9338.