19 Nov 2013
AUD/USD plunges to 0.9352 lows on RBA’s minutes; rebounds
FXstreet.com (Chicago) - AUD/USD was sent to session lows around 0.9352 on knee-jerk reaction after the release of the RBA minutes.
On the RBA minutes it was made clear that the bank is not closing off the chances of a cut.
AUD/USD Technical Levels
Technically speaking, the pair remains capped under the 0.94 zone and is rejected by immediate support around 0.9350 evidencing a bounce back above the 0.9370 front. Offered at 0.9375, the pair oscillates between the supports aligned at 0.9350 (November 14 highs), 0.9320 (November 11 lows) followed by 0.9268 (November 12 lows) and the resistances set at 0.9388 (November 13 highs), 0.9418 (November 18 highs) followed by 0.9470 (November 9 max).
On the RBA minutes it was made clear that the bank is not closing off the chances of a cut.
AUD/USD Technical Levels
Technically speaking, the pair remains capped under the 0.94 zone and is rejected by immediate support around 0.9350 evidencing a bounce back above the 0.9370 front. Offered at 0.9375, the pair oscillates between the supports aligned at 0.9350 (November 14 highs), 0.9320 (November 11 lows) followed by 0.9268 (November 12 lows) and the resistances set at 0.9388 (November 13 highs), 0.9418 (November 18 highs) followed by 0.9470 (November 9 max).