25 Sep 2013
AUD/USD, 0.9400 still a wishful thinking
FXstreet.com (Edinburgh) -The Aussie dollar managed to retraced the whole intraday decline on Wednesday, lifting the AUD/USD from troughs around 0.9340 to the vicinity of 0.9390, losing some traction afterwards.
AUD/USD keeps hinging on risk trends
Extremely light docket in the Australian economy prompted investors to look towards the US economy for drivers this week, as key data and significant Fedspeak would be in the limelight. In the opinion of Robert Rennie, Strategist at Westpac, “My best guess this week is that AUD will still correct lower. It's possible we could see a move to 0.9250/0.9280 if concerns about the "US debt ceiling and budget showdown" rise. However, if anybody listened to my views last week and did sell AUD above 0.95, I would be advising buying them back on dips towards that 0.9280 level. Let's see what happens when we get there”.
AUD/USD levels to watch
As of writing the pair is down 0.17% at 0.9375 with the next support at 0.9343 (low Sep.23) and then 0.9336 (low Sep.18). On the flip side, a breakout of 0.9394 (high Sep.25) would clear the way to 0.9428 (high Sep.24) and finally 0.9459 (high Sep.20).
AUD/USD keeps hinging on risk trends
Extremely light docket in the Australian economy prompted investors to look towards the US economy for drivers this week, as key data and significant Fedspeak would be in the limelight. In the opinion of Robert Rennie, Strategist at Westpac, “My best guess this week is that AUD will still correct lower. It's possible we could see a move to 0.9250/0.9280 if concerns about the "US debt ceiling and budget showdown" rise. However, if anybody listened to my views last week and did sell AUD above 0.95, I would be advising buying them back on dips towards that 0.9280 level. Let's see what happens when we get there”.
AUD/USD levels to watch
As of writing the pair is down 0.17% at 0.9375 with the next support at 0.9343 (low Sep.23) and then 0.9336 (low Sep.18). On the flip side, a breakout of 0.9394 (high Sep.25) would clear the way to 0.9428 (high Sep.24) and finally 0.9459 (high Sep.20).