Back
19 May 2014
AUD/USD locked in consolidation
FXStreet (Córdoba) - The AUD/USD, as most pairs in the FX market, continues to waver within a narrow range unable to set a clear direction as investors take a cautious stance.
The AUD/USD started the week on a weak note, falling to a low of 0.9344 during the Asian session, but it managed to recover afterward and has spent the last hours consolidating in a tight range. At time of writing, the Aussie is trading at 0.9360, 0.14% below its opening price.
AUD/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet notes that even though the AUD/USD holds a neutral tone, bearish pressure builds up after repeated failure to overcome the 0.9400 figure.
Bednarik locates next supports at 0.9320, 0.9290 and 0.9260, while she sees resistances at 0.9375, 0.9410 and 0.9460.
The AUD/USD started the week on a weak note, falling to a low of 0.9344 during the Asian session, but it managed to recover afterward and has spent the last hours consolidating in a tight range. At time of writing, the Aussie is trading at 0.9360, 0.14% below its opening price.
AUD/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet notes that even though the AUD/USD holds a neutral tone, bearish pressure builds up after repeated failure to overcome the 0.9400 figure.
Bednarik locates next supports at 0.9320, 0.9290 and 0.9260, while she sees resistances at 0.9375, 0.9410 and 0.9460.