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10 Nov 2014
AUD/USD closing bullish gap ; technically mixed
FXStreet (Guatemala) - AUD/USD is trading at 0.8634, up 0.02% on the day, having posted a daily high at 0.8685 and low at 0.8630.
AUD/USD has closed the bullish gap and trades back below the mid point of the 0.86 handle. Overnight, the Australian homes loans report showed the value of loans rising and this was supporting the Aussie. In the same time the greenback is overall in a corrective environment after last weeks slightly disappointing Nonfarm Payrolls. On the other hand, however, markets are still prepared for a rate hike in 2015 with such factors as the unemployment numbers in the US printing the lowest since 2008. Technically, the pair is mixed on the short-term charts but it is closing in on the support of the channel on the weekly charts. This maybe indicating that a bottom is forming, although with some room yet to the downside making way for a stronger greenback.
AUD/USD noteworthy levels
With spot trading at 0.8635, we can see next resistance ahead at 0.8637 (Hourly 100 SMA), 0.8646 (Weekly Classic PP), 0.8651 (Hourly 20 EMA) and 0.8660. Support below can be found at 0.8625, 0.8611 (Daily Classic PP), 0.8580 and 0.8540 (YTD Low).
AUD/USD has closed the bullish gap and trades back below the mid point of the 0.86 handle. Overnight, the Australian homes loans report showed the value of loans rising and this was supporting the Aussie. In the same time the greenback is overall in a corrective environment after last weeks slightly disappointing Nonfarm Payrolls. On the other hand, however, markets are still prepared for a rate hike in 2015 with such factors as the unemployment numbers in the US printing the lowest since 2008. Technically, the pair is mixed on the short-term charts but it is closing in on the support of the channel on the weekly charts. This maybe indicating that a bottom is forming, although with some room yet to the downside making way for a stronger greenback.
AUD/USD noteworthy levels
With spot trading at 0.8635, we can see next resistance ahead at 0.8637 (Hourly 100 SMA), 0.8646 (Weekly Classic PP), 0.8651 (Hourly 20 EMA) and 0.8660. Support below can be found at 0.8625, 0.8611 (Daily Classic PP), 0.8580 and 0.8540 (YTD Low).