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15 Aug 2013
AUD/USD, underdog among bears?
FXstreet.com (Chicago) - AUD/USD has advanced 0.15% within the past hour after free fall from 0.9186 zone on release of plethora of consumer price index and job data results in the US.
Industrial production in the US (MoM) for July was flat vs. an expected 0.3% growth. Capacity utilization also decreased to 77.6% vs. projected 77.9% and previous 77.7%.
Price action indicates the pair bounced off from daily lows to trade at 0.9136 between supports at 0.9098 (July 20th highs), 0.9078 (July 9th lows) ahead of 0.9051 (June 30th lows) and above the broken resistance aligned at 0.9121 (July 15th highs). The following resistances are at 0.9140 (June 21st lows) and 0.9163 (June 19th lows).
According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis as its price navigates below the EMA20.
Industrial production in the US (MoM) for July was flat vs. an expected 0.3% growth. Capacity utilization also decreased to 77.6% vs. projected 77.9% and previous 77.7%.
Price action indicates the pair bounced off from daily lows to trade at 0.9136 between supports at 0.9098 (July 20th highs), 0.9078 (July 9th lows) ahead of 0.9051 (June 30th lows) and above the broken resistance aligned at 0.9121 (July 15th highs). The following resistances are at 0.9140 (June 21st lows) and 0.9163 (June 19th lows).
According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis as its price navigates below the EMA20.