15 Jul 2013
AUD/USD testing the 0.9100 region
FXstreet.com (New York) - The AUD/USD foreign exchange rate has been unable to stabilize above the 0.9100 level during US trading Monday, instead testing the region sporadically.
At the time of writing, the AUD/USD is still trading positively, up +0.29% Monday – at this juncture the technical pair is operating at 0.9099 (50-day MA). Resistive means lie higher at 0.9137, ahead of 0.9201, and finally 0.9226, calculates the Danske Research Team.
AUD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The AUD/USD continues to trade with within a sideways but with a downside bias market. The overall bearish trend continues to be intact. A break below 0.9000 mark may signal another leg lower towards 0.8950 and 0.8870 Fibonacci extension levels. Overall, the bearish bias remains favored.”
At the time of writing, the AUD/USD is still trading positively, up +0.29% Monday – at this juncture the technical pair is operating at 0.9099 (50-day MA). Resistive means lie higher at 0.9137, ahead of 0.9201, and finally 0.9226, calculates the Danske Research Team.
AUD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The AUD/USD continues to trade with within a sideways but with a downside bias market. The overall bearish trend continues to be intact. A break below 0.9000 mark may signal another leg lower towards 0.8950 and 0.8870 Fibonacci extension levels. Overall, the bearish bias remains favored.”