13 Aug 2015
AUD/USD off session lows as USD weakens
FXStreet (Córdoba) - Greenback lost strength across the board and pushed AUD/USD to the upside. The pair trimmed losses and rose back above 0.7350.
The aussie is still trading below yesterday’s closing price. On Wednesday it rallied from 0.7230 to 0.7405. After being unable to hold above 0.7400 pulled back.
The retreated from the highs continued during today’s Asian session and AUD/USD bottomed at 0.7320. After Wall Street opening bell turned to the upside and rose above the hourly 20-SMA. Recently reached 0.7365 and currently trades at 0.7355.
AUD/USD to remain sideways?
The pair is back to last week trading range after yesterday’s slide. The long term trend remains bearish while in the short term is moving sideways. A consolidation considerable above 0.7400 should increase the odds of a bullish correction. While below 0.7230, greenback could gain momentum.
The aussie is still trading below yesterday’s closing price. On Wednesday it rallied from 0.7230 to 0.7405. After being unable to hold above 0.7400 pulled back.
The retreated from the highs continued during today’s Asian session and AUD/USD bottomed at 0.7320. After Wall Street opening bell turned to the upside and rose above the hourly 20-SMA. Recently reached 0.7365 and currently trades at 0.7355.
AUD/USD to remain sideways?
The pair is back to last week trading range after yesterday’s slide. The long term trend remains bearish while in the short term is moving sideways. A consolidation considerable above 0.7400 should increase the odds of a bullish correction. While below 0.7230, greenback could gain momentum.