23 Oct 2013
AUD/USD pulverizes resistance to reach 0.9750, 5-month peaks
FXstreet.com (Chicago) - AUD/USD reacted positively to Australian data releases advancing 0.28% so far today to accumulate 0.61% weekly gains so far.
Australian data
Consumer price indexes (YoY) for Q3 were 2.2% vs. expected 1.8% and past 2.4% with quarterly data at 1.2% vs. expected 0.8%. The RBA trimmed mean CPI (YoY) was 2.3% vs. estimates at 2.1%.
AUD/USD Technical Levels
Technically speaking, the pair is offered at 0.9738 and oscillates between the supports aligned at 0.9677 (October 17 highs), 0.9637 (October 18 highs) followed by 0.96 (October 17 lows), breaking the resistances at 0.9715 (October 18th highs) and 0.9743 (May 24th highs) now facing 0.9785 (May 30th highs). Price action reveals a steep bullish rally capped below immediate support. According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis above the EMA20.
Australian data
Consumer price indexes (YoY) for Q3 were 2.2% vs. expected 1.8% and past 2.4% with quarterly data at 1.2% vs. expected 0.8%. The RBA trimmed mean CPI (YoY) was 2.3% vs. estimates at 2.1%.
AUD/USD Technical Levels
Technically speaking, the pair is offered at 0.9738 and oscillates between the supports aligned at 0.9677 (October 17 highs), 0.9637 (October 18 highs) followed by 0.96 (October 17 lows), breaking the resistances at 0.9715 (October 18th highs) and 0.9743 (May 24th highs) now facing 0.9785 (May 30th highs). Price action reveals a steep bullish rally capped below immediate support. According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis above the EMA20.