5 Sep 2013
AUD/USD easing from 0.9190
FXstreet.com (Edinburgh) -The Aussie dollar is trading on the back foot on Thursday, giving away part of yesterday’s pronounced advance and driving the AUD/USD around the mid 0.91s.
AUD/USD boosted by risk
The USD dollar rally lost some vigour in the past session, boosting the riskier assets and lifting the pair back to the vicinity of 0.9200 the figure, although gains could not be sustained. “The Aussie should be well supported on the day, with equities likely to be upbeat and shorts still being squeezed. The technical picture is bullish for now though 0.9233 remains key resistance multi-day and will take some work”, suggested Sean Callow, Strategist at Westpac.
AUD/USD key levels
The pair is now retreating 0.26% at 0.9150 and a breakdown of 0.9116 (MA55d) would expose 0.9057 (MA21d) and then 0.9038 (low Sep.4). On the upside, the initial resistance lies at 0.9188 (high Sep.4) ahead of 0.9234 (high Aug.19).
AUD/USD boosted by risk
The USD dollar rally lost some vigour in the past session, boosting the riskier assets and lifting the pair back to the vicinity of 0.9200 the figure, although gains could not be sustained. “The Aussie should be well supported on the day, with equities likely to be upbeat and shorts still being squeezed. The technical picture is bullish for now though 0.9233 remains key resistance multi-day and will take some work”, suggested Sean Callow, Strategist at Westpac.
AUD/USD key levels
The pair is now retreating 0.26% at 0.9150 and a breakdown of 0.9116 (MA55d) would expose 0.9057 (MA21d) and then 0.9038 (low Sep.4). On the upside, the initial resistance lies at 0.9188 (high Sep.4) ahead of 0.9234 (high Aug.19).