6 Nov 2013
AUD/USD gives in 0.95
FXstreet.com (Chicago) - AUD/USD fell from the 0.9514 session highs to hit 0.9486 bottoms and now attempt a reversal erasing losses partially but remaining under pressure.
Perspective
According to Jim Langlands from FXcharts, “the Aud had a choppy session after the RBA left rates unchanged and warned that the currency remains uncomfortably high. That did not do much good as, after dipping to a session low of 0.9463, it then climbed back to as high as 0.9536 before it topped out and currently sits back at 0.9500, pretty much where it started the session” adding “more of the same looks likely today and I think we can probably look towards a similar range […]the 4 hour indicators suggest that we could head mildly higher but I don’t think we are going to head too far above 0.9550 while the US$ retains a bid tone.” The trade balance results released earlier in Australia favored the greenback.
AUD/USD Technical Levels
Technically speaking, the pair is offered at 0.9493 and oscillates between the supports aligned at 0.9459 (October 29 lows), 0.9427 (November 1st lows) followed by 0.9386 (October 10 lows) and the resistances set at 0.9514 (October 29 highs), 0.9554 (October 27 lows) followed by 0.9621 (October 27 highs).
Perspective
According to Jim Langlands from FXcharts, “the Aud had a choppy session after the RBA left rates unchanged and warned that the currency remains uncomfortably high. That did not do much good as, after dipping to a session low of 0.9463, it then climbed back to as high as 0.9536 before it topped out and currently sits back at 0.9500, pretty much where it started the session” adding “more of the same looks likely today and I think we can probably look towards a similar range […]the 4 hour indicators suggest that we could head mildly higher but I don’t think we are going to head too far above 0.9550 while the US$ retains a bid tone.” The trade balance results released earlier in Australia favored the greenback.
AUD/USD Technical Levels
Technically speaking, the pair is offered at 0.9493 and oscillates between the supports aligned at 0.9459 (October 29 lows), 0.9427 (November 1st lows) followed by 0.9386 (October 10 lows) and the resistances set at 0.9514 (October 29 highs), 0.9554 (October 27 lows) followed by 0.9621 (October 27 highs).