11 Oct 2013
AUD/USD firmer, 0.9500 closer
FXstreet.com (Edinburgh) -The bid tone remains alive around the Aussie dollar on Friday, pushing the AUD/USD to the upper end of the weekly range around 0.9475/80.
AUD/USD eyes on US events
There are no data releases in Australia today, with the events in the US being the main catalysts for prices in the near term. The pair advanced in five of the last six weeks, from multi-year lows below 0.8900 to the current vicinity of 0.9500 the figure. According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “remains capable of re-challenging its initial resistance at 0.9510/25. A slide below yesterdays low of 0.9390 is needed to alleviate its immediate upside pressure and to trigger a retest of its 38.2% retracement support at 0.9283”.
AUD/USD levels to consider
At the moment the pair is up 0.29% at 0.9477 and a surpass of 0.9485 (high Oct.8) would open the door to 0.9524 (high Sep.19) and then 0.9530 (high Sep.18). On the flip side, the initial support aligns at 0.9412 (low Oct.8) followed by 0.9393 (MA10d) and then 0.9389 (low Oct.7).
AUD/USD eyes on US events
There are no data releases in Australia today, with the events in the US being the main catalysts for prices in the near term. The pair advanced in five of the last six weeks, from multi-year lows below 0.8900 to the current vicinity of 0.9500 the figure. According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “remains capable of re-challenging its initial resistance at 0.9510/25. A slide below yesterdays low of 0.9390 is needed to alleviate its immediate upside pressure and to trigger a retest of its 38.2% retracement support at 0.9283”.
AUD/USD levels to consider
At the moment the pair is up 0.29% at 0.9477 and a surpass of 0.9485 (high Oct.8) would open the door to 0.9524 (high Sep.19) and then 0.9530 (high Sep.18). On the flip side, the initial support aligns at 0.9412 (low Oct.8) followed by 0.9393 (MA10d) and then 0.9389 (low Oct.7).