AUD/USD capped by 100-hour SMA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - AUD/USD managed to print a higher high for the day following the release of the latest string of weaker-than-expected US data.

    AUD/USD climbed to a peak of 0.7292 before the 50- and 100-hour SMAs crossover offered resistance. The AUD failed to advance further despite USD weakness and it was last trading at 0.7270, still 0.37% up on the day.

    The Aussie fell briefly below 0.7200 at the beginning of the Asian session weighed by Chinese inflation data, but managed to shrug-off the soft reading and turned positive for the day afterwards.

    AUD/USD levels to watch

    As for technical levels, AUD/USD could find next resistances at 0.7293 (100-hour SMA/Oct 14 high), 0.7358 (100-day SMA) and 0.7381 (Oct 12 high). On the flip side, supports are seen at 0.7198 (Oct 14 low/10-day SMA), 0.7166 (50-day SMA) and 0.7133 (21-day SMA).
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