9 Jul 2013
AUD/USD choppy around 0.91 post-China CPI
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last at 0.9108, off recent levels pre-data at 0.9130, with China CPI coming in higher than expeted at 2.7% y/y vs. 2.5%, and Australia NAB business confidence rising to 0 from previous -1.
AUD/USD critical week ahead
According to BK Asset Management managing director Kathy Lien, “this is a week when the A$ could break 90 cents or squeeze higher. If this week's event risks give speculators any reason to take profit or reconsider their short positions, the liquidation could drive the AUD/USD above 92 and most likely 93 cents.”
AUD/USD key technical levels
Immediate resistance to the upside for AUD/USD shows at mentioned NY session/weekly highs 0.9145, followed by Thursday's/Friday's highs at 0.9180/5, and July 03 highs/June 25 lows at 0.9191/95. To the downside, closest support lies at June 28 lows 0.9113, followed by June 30 lows at 0.9107, and Thursday's lows at 0.9072.
AUD/USD critical week ahead
According to BK Asset Management managing director Kathy Lien, “this is a week when the A$ could break 90 cents or squeeze higher. If this week's event risks give speculators any reason to take profit or reconsider their short positions, the liquidation could drive the AUD/USD above 92 and most likely 93 cents.”
AUD/USD key technical levels
Immediate resistance to the upside for AUD/USD shows at mentioned NY session/weekly highs 0.9145, followed by Thursday's/Friday's highs at 0.9180/5, and July 03 highs/June 25 lows at 0.9191/95. To the downside, closest support lies at June 28 lows 0.9113, followed by June 30 lows at 0.9107, and Thursday's lows at 0.9072.