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30 May 2014
AUD/USD retraces intraday advance
FXStreet (Córdoba) - The AUD/USD extended its recovery during the Asian session but failed to break above the former support area now turned into resistance at 0.9330 and pulled back.
The AUD/USD pierced the 0.9300 mark and climbed to 10-day high of 0.9328 before losing momentum and retracing its intraday advance. Despite this setback, the Aussie is on track to end the last trading week of May as the best performing G10 currency, up 0.83%, after Thursday’s capex data gave the AUD a boost.
AUD/USD levels to watch
The AUD/USD is currently trading at the 0.9310 area, virtually unchanged on the day. As for technical levels, immediate resistances are seen at 0.9334 (May 20 high), 0.9373 (May 19 high) and 0.9400 (psychological level). On the flip side, supports might be faced at 0.9262 (10-day SMA), 0.9210 (May 29 low) and 0.9175 (200-day SMA).
The AUD/USD pierced the 0.9300 mark and climbed to 10-day high of 0.9328 before losing momentum and retracing its intraday advance. Despite this setback, the Aussie is on track to end the last trading week of May as the best performing G10 currency, up 0.83%, after Thursday’s capex data gave the AUD a boost.
AUD/USD levels to watch
The AUD/USD is currently trading at the 0.9310 area, virtually unchanged on the day. As for technical levels, immediate resistances are seen at 0.9334 (May 20 high), 0.9373 (May 19 high) and 0.9400 (psychological level). On the flip side, supports might be faced at 0.9262 (10-day SMA), 0.9210 (May 29 low) and 0.9175 (200-day SMA).