AUD / USD – Technical Analysis – Is the Run Over?

Having enjoyed a solid run up since the beginning of June, The AUD / USD is starting to show signs of tiring and easing off considerably.  Throughout this period, its retracements have been in the order of approximately 2 cents however the present sell off has moved a little further.  The break through the 1.04 level was the telling blow as it is now meeting reasonable resistance there.  (Daily chart below)

EURUSD Technical Analysis Candlestick 4 Hour Chart.

AUD/USD

Aug 29 at 04:45 GMT
1.0358/59 H: 1.0389 L: 1.03496
S3 S2 S1 R1 R2 R3
1.0350 1.0300 1.0200 1.0400 1.0550 1.0600

 

AUD/USD Technical

  • During the hours of the Asian trading session on Wednesday, the AUD / USD has eased off a little from its earlier highs towards 1.0390.
  • Short term, the 1.0350 level is likely to offer some support and the 1.0300 level is likely to offer support beyond that.
  • Current range: Staying below 1.0400.  Is the AUD / USD ride over?

 

Further levels in both directions:

  • Below: 1.0350, 1.0300, and 1.0200.
  • Above: 1.0400, 1.0550 and 1.0600.

 

August 29

  • AU 1:30 (GMT) Construction Work Done (Q2)
  • CA 12:30 (GMT) Industrial product price index (Jul)
  • CA 12:30 (GMT) Raw Materials Price Index (Jul)
  • US 12:30 (GMT) Core PCE Price Index (Prelim.) (Q2)
  • US 12:30 (GMT) GDP Annualised (Prelim.) (Q2)
  • US 14:00 (GMT) Pending Home Sales (Jul)

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