Back
13 Mar 2014
AUD/USD challenges 0.9100
FXStreet (Córdoba) - The AUD/USD took another step higher during the American session and reached a fresh weekly high just a few pips shy of the 0.9100 psychological level.
The AUD/USD was underpinned Thursday by stronger-than-expected Australian jobs report and improvement in risk sentiment, extending its recovery to a high of 0.9099 so far. If the Australian dollar breaks decisively above the 0.9100 mark it would pave the way towards 0.9132 (2014 high) en route to 0.9160 (200-day SMA).
AUD/USD technical perspective
"Technically the hourly chart shows price well above its 20 SMA, and indicators heading back north after correcting overbought readings, which suggests there's more room to the upside", said Valeria Bednarik, chief analyst at FXStreet. "In the 4 hours chart the technical picture is also bullish, eyeing now 0.9130 price zone, this month high".
The AUD/USD was underpinned Thursday by stronger-than-expected Australian jobs report and improvement in risk sentiment, extending its recovery to a high of 0.9099 so far. If the Australian dollar breaks decisively above the 0.9100 mark it would pave the way towards 0.9132 (2014 high) en route to 0.9160 (200-day SMA).
AUD/USD technical perspective
"Technically the hourly chart shows price well above its 20 SMA, and indicators heading back north after correcting overbought readings, which suggests there's more room to the upside", said Valeria Bednarik, chief analyst at FXStreet. "In the 4 hours chart the technical picture is also bullish, eyeing now 0.9130 price zone, this month high".