24 Jul 2013
AUD/USD recovering above 0.9200
FXstreet.com (London) - AUD/USD had been offered over night, which followed through aggressively in the early hours of European trade.
AUD/USD has since recovered from sub 0.9200 lows of 0.9189 to print above the handle and is attempting to reclaim 0.9220 territories. The pair was subject to yet further concerns for the slowdowns in China as well as a mixed inflationary report, yet over 2 quarters, this left the rate at 12% and at the bottom of the RBA’s target band, leading to speculation that an RBA rate card could be on the cards for August or at least at some stage soon.
AUD/USD remains bearish
AUD/USD is following its bear trend within the current ranges within its range, capped by key resistance at around 0.9400 where the 2011 low met the highs from 2009 and 2010. To the downside, the market would eyes 0.9000 as a psychological area that could mean we are en route for 0.8550 again.
AUD/USD has since recovered from sub 0.9200 lows of 0.9189 to print above the handle and is attempting to reclaim 0.9220 territories. The pair was subject to yet further concerns for the slowdowns in China as well as a mixed inflationary report, yet over 2 quarters, this left the rate at 12% and at the bottom of the RBA’s target band, leading to speculation that an RBA rate card could be on the cards for August or at least at some stage soon.
AUD/USD remains bearish
AUD/USD is following its bear trend within the current ranges within its range, capped by key resistance at around 0.9400 where the 2011 low met the highs from 2009 and 2010. To the downside, the market would eyes 0.9000 as a psychological area that could mean we are en route for 0.8550 again.