AUD/USD: short-term risks
AUD/USD has met resistance in the $0.9088 area (January high, 38.2% retracement of the decline from October to January). Yesterday's spinning top at the daily chart signals that the bulls have lost momentum, but the market is in the state of indecision. The bulls are doing their best to hold to $0.9000/8980 (Tenkan-sen, bottom of the daily Cloud, top of Cloud at H4).
Commerzbank expects Aussie to ease down to $0.8922/0.8892 (55- and 20-day MAs, 23.6% Fibo). If Aussie manages to break above $0.9088, the target will be at $0.9216 (200-day MA).
UOB group says that the outlook for today is neutral and expects consolidation in the $0.8970/9060 area.
Chart. Daily AUD/USD