30 Aug 2013
AUD/USD holds above 0.8900, for now
FXstreet.com (Córdoba) - The AUD/USD remains under mild pressure during the American session, after the latest recovery attempt was capped by the 0.8955 zone.
AUD/USD moved off from highs but it has managed to hold above the 0.8900 zone so far despite the negative tone in Wall Street. At time of writing, AUD/USD is trading at the 0.8905 zone, 0.2% below its opening price.
AUD/USD presents a neutral stance
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that technical readings present a quite neutral stance in the 1- and 4-hour charts. “Being the last trading day of the month, some profit taking may affect the market and reverse latest greenback gains, but if stocks remain under pressure, the movement should be limited”, the analyst said.
AUD/USD moved off from highs but it has managed to hold above the 0.8900 zone so far despite the negative tone in Wall Street. At time of writing, AUD/USD is trading at the 0.8905 zone, 0.2% below its opening price.
AUD/USD presents a neutral stance
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that technical readings present a quite neutral stance in the 1- and 4-hour charts. “Being the last trading day of the month, some profit taking may affect the market and reverse latest greenback gains, but if stocks remain under pressure, the movement should be limited”, the analyst said.