5 Nov 2013
AUD/USD upside stalled at 0.9540
FXstreet.com (Edinburgh) -The Aussie dollar keeps pushing higher on Tuesday, lifting the AUD/USD to fresh weekly highs in levels just shy of 0.9540.
AUD/USD firmer despite the RBA
The pair utterly digested the earlier comments by the RBA, stating that the AUD at current levels “is still uncomfortably high”, recovering the positive territory after a brief drop near 0.9460 and testing fresh highs around 0.9540. “On balance we expect that while hopes that the Fed will delay tapering could support AUD/USD on a 3 mth view that the AUD will be vulnerable into 2014. On a 12 mth view we see risk that AUD/USD could revisit this year’s low in the 0.88 region”, noted Jane Foley, Strategist at Rabobank.
AUD/USD levels to watch
As of writing the pair is up 0.10% at 0.9524 and a surpass of 0.9600 (psychological level) would bring 0.9624 (high Oct.25) and finally 0.9705 (MA200d). On the flip side, the immediate support lines up at 0.9389 (low Oct.7) followed by 0.9385 (MA50d) and then 0.9280 (low Sep.30).
AUD/USD firmer despite the RBA
The pair utterly digested the earlier comments by the RBA, stating that the AUD at current levels “is still uncomfortably high”, recovering the positive territory after a brief drop near 0.9460 and testing fresh highs around 0.9540. “On balance we expect that while hopes that the Fed will delay tapering could support AUD/USD on a 3 mth view that the AUD will be vulnerable into 2014. On a 12 mth view we see risk that AUD/USD could revisit this year’s low in the 0.88 region”, noted Jane Foley, Strategist at Rabobank.
AUD/USD levels to watch
As of writing the pair is up 0.10% at 0.9524 and a surpass of 0.9600 (psychological level) would bring 0.9624 (high Oct.25) and finally 0.9705 (MA200d). On the flip side, the immediate support lines up at 0.9389 (low Oct.7) followed by 0.9385 (MA50d) and then 0.9280 (low Sep.30).