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11 Jun 2014
AUD/USD fails to hold above 0.9400
FXStreet (Córdoba) - The AUD/USD made an appearance above 0.9400 at the beginning of the American session but failed to sustain gains for long and pulled back slightly.
The AUD/USD briefly rose above the 0.9400 mark and scored a fresh 1-month peak of 0.9405 before sliding back to the 0.9385 zone, where it holds onto a 0.14% gain on the day. The AUD/USD has risen 6 out of the 8 trading days of June, printing higher highs on daily basis, helped by carry trades flows.
AUD/USD technical perspective
Valeria Bednarik, chief analyst at FXStreet notes that short-term technical indicators are losing their bullish strength, but she notes that “only below 0.9360 the pair will come under some selling pressure, while steady gains above 0.9400 are required to confirm an advance up to 0.9460 this year high”.
Bednarik locates next resistance levels at 0.9390, 0.9430 and 0.9460, while supports are seen at 0.9360 0.9325 0.9290.
The AUD/USD briefly rose above the 0.9400 mark and scored a fresh 1-month peak of 0.9405 before sliding back to the 0.9385 zone, where it holds onto a 0.14% gain on the day. The AUD/USD has risen 6 out of the 8 trading days of June, printing higher highs on daily basis, helped by carry trades flows.
AUD/USD technical perspective
Valeria Bednarik, chief analyst at FXStreet notes that short-term technical indicators are losing their bullish strength, but she notes that “only below 0.9360 the pair will come under some selling pressure, while steady gains above 0.9400 are required to confirm an advance up to 0.9460 this year high”.
Bednarik locates next resistance levels at 0.9390, 0.9430 and 0.9460, while supports are seen at 0.9360 0.9325 0.9290.