23 Sep 2013
AUD/USD eases from highs
FXstreet.com (Córdoba) - The AUD/USD is advancing Monday after two days of losses helped by a softer greenback, which suffered in the wake of disappointing manufacturing data.
AUD/USD capped by 0.9455
Nevertheless, AUD/USD remains well within last week’s range amid slow markets. AUD/USD reached a daily high of 0.9456 in recent dealings, but failed to overcome that level and pulled back slightly. At time of writing, AUD/USD is trading at the 0.9440 zone, where it records a 0.8% gain since opening.
AUD/USD technical outlook
“Saved by Chinese improved data, the AUD/USD surged back above the 0.9400 area, suggesting latest slide has been just corrective in the middle of this newborn bullish trend”, said Valeria Bednarik, chief analyst at FXstreet.com. “Challenging recent highs around 0.9450, the pair needs to break above this level to confirm a retest of the 0.9500/20 price zone”.
AUD/USD capped by 0.9455
Nevertheless, AUD/USD remains well within last week’s range amid slow markets. AUD/USD reached a daily high of 0.9456 in recent dealings, but failed to overcome that level and pulled back slightly. At time of writing, AUD/USD is trading at the 0.9440 zone, where it records a 0.8% gain since opening.
AUD/USD technical outlook
“Saved by Chinese improved data, the AUD/USD surged back above the 0.9400 area, suggesting latest slide has been just corrective in the middle of this newborn bullish trend”, said Valeria Bednarik, chief analyst at FXstreet.com. “Challenging recent highs around 0.9450, the pair needs to break above this level to confirm a retest of the 0.9500/20 price zone”.