AUDUSD Daily Analysis – April 21, 2014
AUDUSD’s downward movement from 0.9461 extended to as low as 0.9314.
AUDUSD’s downward movement from 0.9461 extended to as low as 0.9314.
AUDUSD stays in a upward price channel on 4-hour chart, and remains in uptrend from 0.8924, the fall from 0.9461 is likely consolidation of the uptrend.
AUDUSD made a strong rally yesterday thanks to upbeat jobs data, but it was unable to sustain its rally when Chinese CPI came in weaker than expected today.
AUDUSD remains in uptrend from 0.9205, and the rise extended to as high as 0.9439.
The Aussie dollar (AUSUSD) continued to build on the bullish momentum of the last few weeks, with the June futures contract closing the session with a wide spread up candle on the daily chart, surging through the 0.9300 region on good volumes.
After touching 0.9303 resistance, AUDUSD pulled back from 0.9306, suggesting that lengthier sideways movement is underway.
AUDUSD broke above 0.9303 resistance, suggesting that the uptrend from 0.8924 has resumed.
AUDUSD has formed a reversal pattern on its 1-hour time frame, indicating that the uptrend may be over and that a selloff is ready to take place.
AUDUSD continued its upward movement from 0.8995, and the rise extended to as high as 0.9294.
The AUD/USD pair rose during the session on Tuesday, breaking above the 0.9150 handle.