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21 Feb 2014
AUD/USD finishing up sub critical 0.8990 support
FXStreet (Guatemala) - AUD/USD is finishing up the week with a negative outlook going into next, down from the 0.90 psychological handle and sub the critical 0.8990 support.
Karen Jones, chief economist at Commerzbank explained that the AUD/USD continues to ease back from 0.9079/86, the January high and 38.2% retracement of the move down from the end of October. “We look for losses initially to market will ease lower towards 0.8921/01 (the 55 and 20 day ma). Only above 0.9086 would introduce scope to the 200 day ma at 0.9207, but this is less favoured”.
AUD/USD Levels
The 20 DMA is 8904, the 50 DMA is 0.8902 and the 200 DMA is 0.9205. RSI (14) reads 43.91. Supports are ascending from 0.8873, 0.8907, 0.8920 and 0.8957. Spot is 0.8966 while resistances are 0.9000, 0.9044, 0.9087, 0.9125 and 0.9169.
Karen Jones, chief economist at Commerzbank explained that the AUD/USD continues to ease back from 0.9079/86, the January high and 38.2% retracement of the move down from the end of October. “We look for losses initially to market will ease lower towards 0.8921/01 (the 55 and 20 day ma). Only above 0.9086 would introduce scope to the 200 day ma at 0.9207, but this is less favoured”.
AUD/USD Levels
The 20 DMA is 8904, the 50 DMA is 0.8902 and the 200 DMA is 0.9205. RSI (14) reads 43.91. Supports are ascending from 0.8873, 0.8907, 0.8920 and 0.8957. Spot is 0.8966 while resistances are 0.9000, 0.9044, 0.9087, 0.9125 and 0.9169.