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24 Apr 2013
Forex: AUD/USD below 1.0270 ahead of Aus CPI
FXstreet.com (Barcelona) - Quiet around the 1.0264 for last 3 hours, AUD/USD is waiting for key risk event of the Asia-Pacific in the form of CPI at 01:30 GMT, with the pair capped below the 1.0273 mark, today's highs. The Aussie has managed to bounce from yesterday's fresh 6-week lows at 1.0218 following softer than expected China HSBC PMI, though still is slightly in the negative for the week so far.
As Valeria Bednarik notes, Chief Analyst at Fxstreet.com: “The hourly chart shows price standing above a flat 20 SMA while indicators lose upward potential, holding in positive territory,” the analyst said, adding: “In the 4 hours chart technical outlook remains bearish, with 20 SMA capping the upside around 1.0280: only steady gains above this last may see a stronger recovery in the pair, with immediate target around 1.0330 price zone.”
Valeria sees support levels at: 1.0220, 1.0180 and 1.0130, while resistance levels at: 1.0280, 1.0300 and 1.0335.
As Valeria Bednarik notes, Chief Analyst at Fxstreet.com: “The hourly chart shows price standing above a flat 20 SMA while indicators lose upward potential, holding in positive territory,” the analyst said, adding: “In the 4 hours chart technical outlook remains bearish, with 20 SMA capping the upside around 1.0280: only steady gains above this last may see a stronger recovery in the pair, with immediate target around 1.0330 price zone.”
Valeria sees support levels at: 1.0220, 1.0180 and 1.0130, while resistance levels at: 1.0280, 1.0300 and 1.0335.