8 Aug 2013
AUD/USD, is the rally over?
FXstreet.com (Chicago) - AUD/USD continued to give in small gains against the greenback in the afternoon of the American trading session.
Price action indicated a strong rebound from 3-year lows on weaker-than-expected job market data in the US. The pair topped gainers among major currency performers with the Aussie strengthening 1.31% against the greenback as the trading journey advanced. However, once the price reached 0.9134 highs, it started descending to accumulate 0.03% losses within the past couple of hours.
The FXstreet trend index reported the pair as slightly bullish on one-hour timeframe analysis with supports at 0.9112 (July 10th lows), 0.9103 (July 4th lows) ahead of 0.9091 (July 2nd highs) and resistances at 0.9128 (July 24th lows), 0.9139 (July 18th lows) followed by 0.9151 (July 9th lows).
The ICN technical analysis team maintained its intraday bias “eying 0.9135 next resistance level.”
Price action indicated a strong rebound from 3-year lows on weaker-than-expected job market data in the US. The pair topped gainers among major currency performers with the Aussie strengthening 1.31% against the greenback as the trading journey advanced. However, once the price reached 0.9134 highs, it started descending to accumulate 0.03% losses within the past couple of hours.
The FXstreet trend index reported the pair as slightly bullish on one-hour timeframe analysis with supports at 0.9112 (July 10th lows), 0.9103 (July 4th lows) ahead of 0.9091 (July 2nd highs) and resistances at 0.9128 (July 24th lows), 0.9139 (July 18th lows) followed by 0.9151 (July 9th lows).
The ICN technical analysis team maintained its intraday bias “eying 0.9135 next resistance level.”