Forex: AUD/USD tests 0.9000

on Aug 21, 2013
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_iNVEZZ.com August Wednesday 21th_: The AUD/USD yesterday lost 0.57 percent of its value with the daily candle opening at 0.9113 and closing at 0.9056. The pair traded within a 95-pip range between 0.9026 and 0.9121. The daily fractal at 0.9057 was breached. The price was initially supported by the 50 percent Fibo retracement of 0.8846 to 0.9220 at 0.9033, but subsequently the level was breached and is currently acting as a resistance.

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The retreat from the 0.9200 level continues today with the AUD/USD currently at 0.9010, 0.46 percent below the opening price. The intraday low of 0.8999 is the lowest point for the past 10 days. Moments ago the price tested the 0.9000 psychological level, but rebounded slightly. Sustained trading below this key level, which has brought strong resistance in the recent past, would push the price towards the 5 August low of 0.8846.

The MACD (9,12,1) is negative on all 1H, 4H, daily, weekly and monthly timeframes, indicating bearish sentiment. The 89- and 200-period simple moving averages on the same charts are also supporting the downwards movement, by floating above the price action.
If the 0.9000 level holds, the price would continue to consolidate between 0.9300 and 0.9000.

Important resistance levels today: 0.9070, 0.9095 and 0.9135.
Important support levels today: 0.9015, 0.9000, 0.8990 and 0.8930.
!fm[](/uploads/story/4974/audusdh4_2108.png)

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AUD/USD – FDI in China widely anticipated Forex: Afternoon update: US dollar weakened by speculation

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http://nvz.bz/18TLOjb

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