AUDUSD Daily Analysis – April 1, 2014
AUDUSD remains in uptrend from 0.8995, the fall from 0.9294 could be treated as consolidation of the uptrend.
AUDUSD remains in uptrend from 0.8995, the fall from 0.9294 could be treated as consolidation of the uptrend.
Gold (GLD, quote) continues to remain weak with yesterday’s close of 1284.50. In early trading the spot price of gold is basically flat.
EURUSD’s downward movement from 1.3966 extended to as low as 1.3705.
AUDUSD continued its upward movement from 0.8995, and the rise extended to as high as 0.9294.
GBP/USD has shown momentum in crrying on with its ongoing uptrend, as it bounced off support on the rising trend line connecting the lows on the 4-hour time frame.
The USD/JPY pair fell during the bulk of the session on Wednesday, but as you can see found enough support in order to turn things back around and bounce above the 102 level.
The AUD/USD pair rose during the session on Tuesday, breaking above the 0.9150 handle.
The EUR/USD pair tried to fall apart during the session on Tuesday, but as you can see the 1.3750 level offered enough support to push the market higher, and move it back enough to form a hammer.
The EUR/USD pair bounce during the session on Monday, breaking above the 1.38 level by the end of the day, but giving back quite a bit of the gains nonetheless.
The USD/JPY pair fell during the session on Friday, but stays above the 102 level to show signs of support.