Trading news

AUD/USD: general review

Current trend

The rise in the pair AUD/USD has slightly slowed down amid positive US macro-statistics. Consumer confidence index rose to 82.6 points against expectations of 81 points. The pair is also under pressure from liquidity of long positions, as previous steady rise has created attractive conditions for investors to  take profit. Today, investors will pay attention to the US statistics, including the data on retail sales (15:30 GMT+3).

Support and resistance

Support levels: 0.9382, 0.9360, 0.9345 and 0.9325.

Resistance levels: 0.9410, 0.9440 and 0.9460.

Trading tips

On the four-hour chart Bollinger bands demonstrate slight divergence showing the lull in the market. MACD histogram is in the positive zone but its volumes are decreasing, suggesting the increase in sellers’ influence. It is likely that the price will slowly go down. Sell positions are recommended after breakdown of the level of 0.9382 with the targets of 0.9360 and 0.9345. Breakdown of the level of 0.9345 will open the way to 0.932

 

Vadim Smarzh

Analyst of LiteForex Group of Companies

Monday, 14 Apr, 2014 / 10:06

Source : http://www.liteforex.com/

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