24 Oct 2014
AUD/USD recovers to 0.8770
FXStreet (Edinburgh) - The Aussie dollar keeps the upper band of the range on Friday, with AUD/USD hovering over the 0.8770 neighbourhood.
AUD/USD supported at 0.8720
Spot is extending the recovery from intraday troughs around 0.8720 on Friday, following the better sentiment from the risk-associated universe and some selling interest now hurting the greenback. A second-tier calendar in Oz awaits traders next week, thus diverting the attention and the search for catalysts to events and developments overseas. Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested, “Beyond this near term rebound we remain negative and look for a retest of support circa .8660/43 and continue to target the .8550 50% retracement of the move from 2009”.
AUD/USD relevant levels
As of writing the pair is advancing 0.11% at 0.8771 and a surpass of 0.8813 (high Sep.26) would open the door to 0.8885 (high Sep.25) and then 0.8897 (high Sep.24). On the flip side, the initial support lines up at 0.8663 (low Oct.1) ahead of 0.8660 (low Jan.24) and finally the psychological handle at 0.8500.
AUD/USD supported at 0.8720
Spot is extending the recovery from intraday troughs around 0.8720 on Friday, following the better sentiment from the risk-associated universe and some selling interest now hurting the greenback. A second-tier calendar in Oz awaits traders next week, thus diverting the attention and the search for catalysts to events and developments overseas. Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested, “Beyond this near term rebound we remain negative and look for a retest of support circa .8660/43 and continue to target the .8550 50% retracement of the move from 2009”.
AUD/USD relevant levels
As of writing the pair is advancing 0.11% at 0.8771 and a surpass of 0.8813 (high Sep.26) would open the door to 0.8885 (high Sep.25) and then 0.8897 (high Sep.24). On the flip side, the initial support lines up at 0.8663 (low Oct.1) ahead of 0.8660 (low Jan.24) and finally the psychological handle at 0.8500.