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AUD/USD Resistance At 0.9144

Published 03/23/2014, 08:14 PM
Updated 07/09/2023, 06:31 AM

Despite commentary from the U.S. Federal Reserve last week, the AUD/USD finished the week in a strong position to challenge the recent top at .9137. A breakout above this price could trigger a move to the next level at 0.9367.

The Forex pair closed at .9080 on Friday which puts it on the strong side of a downtrending angle from the .9137 top at .9077

The AUD/USD have Strong resistance at 0.9367. This marked the high point of the pair in the yellow band, which saw the Aussie go on a sharp slide and drop below the 0.89 line. This is followed by resistance at 0.9368, which was an important line in mid-November.

Next, there is resistance at 0.9144. the yellow band saw there resistance . It has provided steady resistance since November.
We find support for the pair at 0.9060 (an important pivot zone to watch) and 0.9010, which base on crossing bands.

The final support level for now is 0.8940 which played a key support role in the last round from late feb.

Fundamentally, traders will get a chance to respond to HSBC Flash Manufacturing PMI data from China The U.S. is also scheduled to release its latest Flash Manufacturing PMI data later in the session.

This week the U.S. is scheduled to release data on Consumer Confidence, New and Pending Home Sales and Durable Goods. In addition, several Fed members are scheduled to speak, setting up the market for some volatile moments especially if the speakers decide to clarity Fed Chair Yellen’s comments about the timing of a possible interest rate hike.

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