AUD/USD: 4 hour chart losing up wards strength - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet note that AUD/USD surged up to the 0.7700 level, maintaining a strong positive tone and finding support in rising commodities and equities, as the gold price recovered above the $1,200 an ounce level.

Key Quotes:

"Current Aussie strength will have to face critical macroeconomic readings during the upcoming Asian session, as the country will release its monthly employment figures for March, pretty much unchanged from February ones, and Consumer Inflation expectations for April, last at 3.2%."

"Up beating figures can push the pair through the 0.7740 price zone, 50% retracement of the pair's latest bearish run, and this month high, a key resistance level. In the meantime, the 1 hour chart shows that the 20 SMA heads north below the current price albeit the technical indicators are giving signs of exhaustion in overbought territory, anticipating at least some consolidation ahead of the news."

"In the 4 hours chart the technical indicators have also lost their upward strength, but remain in positive territory, whilst the 20 SMA stands flat around 0.7610."