AUD/USD holding out, may achieve 0.9330

FXStreet (Guatemala) - AUD/USD is trading at 0.9384, having posted a daily high at 0.9386 and low at 0.9382.

With AUD/USD holding above key support zone and slowing up on the downside ahead of the descending supporting trend line, Karen Jones, chief analyst at Commerzbank explained that they are unable to rule out stabs higher while above 0.9330. “HOWEVER it is a whippy range in the 0.9330-0.9505 band and we suspect ultimately will break down. Below 0.9330 will trigger losses to the 0.9203/0.9194 May low and 200 day ma. We also find the 55-week ma in this vicinity at 0.9188 and the 32.8% retracement at 0.9195. These represent major break down points short term”.

AUD/USD near term levels

With spot trading at 0.9382, we can see next resistance ahead at 0.9392 (Hourly 20 EMA), 0.9396 (Daily 20 SMA), 0.9420, 0.9460 and 0.9500. Support below can be found at 0.9374 (Daily Low), 0.9356 (Daily Classic S3) and 0.9344 (Weekly Classic S1), 0.9330 and 0.9300.