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19 Mar 2013
Forex: AUD/USD closes the gap at 1.0410 ahead of RBA minutes
FXstreet.com (Barcelona) - Just as RBA Debelle has finished his speech and he is answering the round of questions, and about 90 minutes away from RBA minutes while Lowe is giving his own speech, AUD/USD sits around 1.0396 last, off daily highs at 1.0410 printed in early NY trade, closing the initial weekly opening gap from yesterday. The pair opened yesterday following Cyprus bail-out news going straight to fresh weekly lows at 1.0341, recovering from there ever since.
As Valeria Bednarik notes, Chief Analyst at Fxstreet.com: “The hourly chart presents a short term bullish stance, as price stands above a slightly bullish 20 SMA while indicators head north in positive territory. In the 4 hours chart technical outlook is also positive, with room to advance near 1.0500 if positive mood persists and price manages to break above 1.0410 immediate resistance,” the analyst said.
Valeria finds support levels at: 1.0370, 1.0330 and 1.0300, while resistance levels at: 1.0410, 1.0440 and 1.0490.
As Valeria Bednarik notes, Chief Analyst at Fxstreet.com: “The hourly chart presents a short term bullish stance, as price stands above a slightly bullish 20 SMA while indicators head north in positive territory. In the 4 hours chart technical outlook is also positive, with room to advance near 1.0500 if positive mood persists and price manages to break above 1.0410 immediate resistance,” the analyst said.
Valeria finds support levels at: 1.0370, 1.0330 and 1.0300, while resistance levels at: 1.0410, 1.0440 and 1.0490.