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18 Mar 2014
AUD/USD hits 1-week highs after RBA minutes
FXStreet (Córdoba) - The AUD/USD reacted to the upside, rising from 0.9085 to 0.9108 after the release of the minutes of the last monetary policy meeting of the RBA, that took place March 4th.
After printing fresh highs the AUD/USD pulled back below 0.9100 but still holds some upside momentum, as the Aussie climbs across the board.
Technical outlook for the AUD/USD
According to ">Jim Langlands from FX Charts, the 4 hour chart look positive and the downside could find support around 0.9040/50, and below here at 0.9025: “I would doubt that we are headed much below here today, although if wrong, 0.9000 should find bids ahead of 0.8980”.
To the upside he notes that it the price rises above 0.9100 it could get interesting, particularly if overcomes 0.9133 (last week highs). “We should not completely discount the possibility of a reverse head/shoulders formation, which would have the potential to head up towards a target of around 0.94502, warns Langlands.
After printing fresh highs the AUD/USD pulled back below 0.9100 but still holds some upside momentum, as the Aussie climbs across the board.
Technical outlook for the AUD/USD
According to ">Jim Langlands from FX Charts, the 4 hour chart look positive and the downside could find support around 0.9040/50, and below here at 0.9025: “I would doubt that we are headed much below here today, although if wrong, 0.9000 should find bids ahead of 0.8980”.
To the upside he notes that it the price rises above 0.9100 it could get interesting, particularly if overcomes 0.9133 (last week highs). “We should not completely discount the possibility of a reverse head/shoulders formation, which would have the potential to head up towards a target of around 0.94502, warns Langlands.