25 Jul 2013
AUD/USD takes a breather above 0.9130
FXstreet.com (Buenos Aires) - The AUD/USD foreign exchange rate is last trading at 0.9252, off recent session lows at 0.9127, slightly below mid NY session earlier fresh 7-day lows at 0.9130, printed on the back of broad USD strength following better than expected US new home sales data.
AUD/USD expected to move higher towards 0.96
According to FXWW founder Sean Lee, “AUD/USD is approaching important resistance levels starting at .9305 and getting stronger near .9330/40. Support levels are not really all that strong until .9150 so I’d be wary of buying into strength given the strong bear trend. But, I fully expect this pair to break higher soon and move towards more neutral levels at .9600.”
AUD/USD key technical levels
Immediate support to the downside for AUD/USD lies at July 18 lows 0.9136, followed by mentioned session/NY 7-day lows at 0.9130/27, and July 11 lows at 0.9117. To the upside, closest resistance shows at recent session/July 04-05 highs 0.9180, followed by July 03/12 highs at 0.9190, and July 19 highs at 0.9235.
AUD/USD expected to move higher towards 0.96
According to FXWW founder Sean Lee, “AUD/USD is approaching important resistance levels starting at .9305 and getting stronger near .9330/40. Support levels are not really all that strong until .9150 so I’d be wary of buying into strength given the strong bear trend. But, I fully expect this pair to break higher soon and move towards more neutral levels at .9600.”
AUD/USD key technical levels
Immediate support to the downside for AUD/USD lies at July 18 lows 0.9136, followed by mentioned session/NY 7-day lows at 0.9130/27, and July 11 lows at 0.9117. To the upside, closest resistance shows at recent session/July 04-05 highs 0.9180, followed by July 03/12 highs at 0.9190, and July 19 highs at 0.9235.