AUD/USD stablised at 1hr 200 sma

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    A market shorting the greenback to start the week has enabled commodities and AUD/USD to grid higher.

    AUD/USD rose from 0.7538 to score a high of 0.7628. Copper rallied from 2.0725 to 2.1058 before retreating to 2.0820 current level. Oil WTI moved up from $39.23 to a high of $40.72. Gold staged a gain between $1,246 lows and $1,259.

    For the forthcoming Asian session, we have March's NAB Business confidence and current conditions while tomorrow comes with Chinese trade balance ahead of the unemployment rate later in the week as the showdown for the Aussie.

    AUD/USD levels

    Spot broke up through the 200 sma on the hourly sticks at 0.7598 and is finding some traction there, while in the 4 hours chart, Valeria Bednarik, chief analyst at FXStreet explained that the 20 SMA offers an intraday support around 0.7560. " At this point the pair needs to settle at least above 0.7640, to be able to advance further this Tuesday, back towards its year highs in the 0.7700 region."
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