23 Jul 2013
AUD/USD treading water around 0.9250
FXstreet.com (Córdoba) - The AUD/USD managed to stabilize in a slim range at the beginning of the New York session after being unable to extend its rise above 0.9285.
AUD/USD capped by 21-hour SMA
AUD/USD dropped over 60 pips during the European session before finding support at the 0.9220 zone and entering in a consolidation phase. Currently testing the 21-hour SMA around 0.9250, the pair trades little changed on the day.
AUD/USD stuck around 0.9250
"The AUD/USD seems unable to take the 0.9300 area, and approaches to the level are seen as short term selling opportunities, with the pair still stuck around 0.9250 price zone", says Valeria Bednarik, chief analyst at FXstreet.com. "Slightly bearish in the hourly chart, and losing upward potential in the 4 hours one, the 0.92/0.93 range will likely persist".
AUD/USD capped by 21-hour SMA
AUD/USD dropped over 60 pips during the European session before finding support at the 0.9220 zone and entering in a consolidation phase. Currently testing the 21-hour SMA around 0.9250, the pair trades little changed on the day.
AUD/USD stuck around 0.9250
"The AUD/USD seems unable to take the 0.9300 area, and approaches to the level are seen as short term selling opportunities, with the pair still stuck around 0.9250 price zone", says Valeria Bednarik, chief analyst at FXstreet.com. "Slightly bearish in the hourly chart, and losing upward potential in the 4 hours one, the 0.92/0.93 range will likely persist".