26 Sep 2013
AUD/USD keeps correcting higher
FXstreet.com (Edinburgh) -After bottoming out in sub-0.9350 levels, the AUD/USD picked up pace and managed to regain the vicinity of 0.9380 on Thursday.
AUD/USD following risk appetite
The pair remains mired in a narrow range during the second half of the week around 0.9370/80, exclusively hinging on risk developments, as the Australian docket is non-existent. In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “continues to slide back towards the 0.9318 July high. While it is likely to consolidate here, it needs to hold over the 0.9318 level. Failure here will imply a loss of momentum and potential for a slide back to the 0.9233 August high, then 0.9160 55 day ma”.
AUD/USD levels to watch
The pair is now up 0.18% at 0.9386 with the next resistance at 0.9394 (high Sep.25) ahead of 0.9428 (high Sep.24) and then 0.9459 (high Sep.20). On the downside, a breach of 0.9371 (MA10d) would open the door to 0.9336 (low Sep.18) and finally 0.9314 (MA100d).
AUD/USD following risk appetite
The pair remains mired in a narrow range during the second half of the week around 0.9370/80, exclusively hinging on risk developments, as the Australian docket is non-existent. In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “continues to slide back towards the 0.9318 July high. While it is likely to consolidate here, it needs to hold over the 0.9318 level. Failure here will imply a loss of momentum and potential for a slide back to the 0.9233 August high, then 0.9160 55 day ma”.
AUD/USD levels to watch
The pair is now up 0.18% at 0.9386 with the next resistance at 0.9394 (high Sep.25) ahead of 0.9428 (high Sep.24) and then 0.9459 (high Sep.20). On the downside, a breach of 0.9371 (MA10d) would open the door to 0.9336 (low Sep.18) and finally 0.9314 (MA100d).