4 Jun 2013
AUD/USD establishes session lows at 0.9665/68
FXstreet.com (Barcelona) - The AUD/USD upside has proven to be fleeting Tuesday, culminating in a huge waning of the AUD across the board, following overnight RBA action.
Indeed, during overnight trading, the AUD/USD received an impetus from the RBA, which held interest rates firm at 2.75%, in line with expectations. Moreover, the Australian Current Account Balance was reported at only -8.5B in Q1, beating projections of -9.0B.
Presently, the pair is operating at 0.9665/68, notching session lows in these moments. In terms of the technical levels, Mataf.net analysts point to supports for pair at 0.9641, ahead of 0.9522, and ultimately 0.9447. Conversely, a movement back higher will instigate the testing of resistances at 0.9835, onto 0.9910 and 1.0029.
According to the Technical Analyst Team at ICN.com, “The AUD/USD rose on Monday and breached 0.9700. Despite the bearishness seen on Tuesday, the pair steadied above a support, an earlier breached resistance. With positive linear regression indicators, we expect to witness an upside movement in today's session, provided that the pair settles above 0.9650.”
Indeed, during overnight trading, the AUD/USD received an impetus from the RBA, which held interest rates firm at 2.75%, in line with expectations. Moreover, the Australian Current Account Balance was reported at only -8.5B in Q1, beating projections of -9.0B.
Presently, the pair is operating at 0.9665/68, notching session lows in these moments. In terms of the technical levels, Mataf.net analysts point to supports for pair at 0.9641, ahead of 0.9522, and ultimately 0.9447. Conversely, a movement back higher will instigate the testing of resistances at 0.9835, onto 0.9910 and 1.0029.
According to the Technical Analyst Team at ICN.com, “The AUD/USD rose on Monday and breached 0.9700. Despite the bearishness seen on Tuesday, the pair steadied above a support, an earlier breached resistance. With positive linear regression indicators, we expect to witness an upside movement in today's session, provided that the pair settles above 0.9650.”