Australian dollar began to strengthen again against the U.S. dollar

Posted on November 4th, 2009
the bears did not have enough forces for the breakdown of a strong level of support 0.8960/40 and the Australian dollar again began to strengthen against the U.S. dollar.
From the standpoint of fundamental analysis, the Australian currency was strong support for the publication of positive news:

- The amount of building permits issued rose in September to just 2.7%
- An index of activity in the service of AiG rose in October to 54.8 against 49.3 a month earlier and reached maximum levels in the first quarter of 2008.

AUD / USD


Now look at the indicators:

Exchange rate is currently testing a moving averages with periods of 144 and 34, which is a single strong resistance level of 0.9070/80.

The MACD histogram is located in the negative zone, but has crossed its signal line upwards, continues to rise and thus generates a signal to buy the Australian dollar.

Stochastic Oscillator is in the neutral zone and gives the same signal as the% K line rises above the% D.

Therefore, as a confirmation that the market could intensify bullish sentiment, we have only to wait for the breakdown 0.9070/80 resistance level which will open the path to levels of 0.9170 and 0.9300.

Resistance levels: 0.9080, 0.9100/10, 0.9130, 0.9170/80, 0.9200

Current Price: 0.9069

Support levels: 0.9050/40, 0.9020/00, 0.8980, 0.8960, 0.8930, 0.8900

Related posts:

  1. Aggressive dollar / yen sellers could return to the market
  2. The Growth of dollar / yen may continue to levels of 91.60 and 92.50
  3. Sales dollar / yen are likely to worsen
  4. The dollar / franc.Trades still held in the range of 1.0240-1.0350
  5. Growth of dollar / yen has slowed down near the level of 92.20
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