30 Jun 2014
AUD/USD fills up minor down-gap
FXStreet (Bali) - AUD/USD opened the new week slightly lower, printing a low of 0.9410, before AUD demand returned to send the rate 10 pips higher around 0.9420, effectively closing the minor gap.
Weekend news impacting the AUD price action were light, leaving most of the moves to be driven by month-end flows and technicals, which continue to provide conflicting signals. While there is a well established day range in place, the latest push-ups last week saw the topside of the range being threatened, however, offers circa 0.9430/40 remain firm.
On the topside, the key area to be broken is found at 0.9430 up to 0.9450, which if cleared, would expose the next resistance at 0.95 round number. On the downside, 0.94 is the immediate support region to protect, with a break lower probably accelerating losses to 0.9385 ahead of 0.9370.
Weekend news impacting the AUD price action were light, leaving most of the moves to be driven by month-end flows and technicals, which continue to provide conflicting signals. While there is a well established day range in place, the latest push-ups last week saw the topside of the range being threatened, however, offers circa 0.9430/40 remain firm.
On the topside, the key area to be broken is found at 0.9430 up to 0.9450, which if cleared, would expose the next resistance at 0.95 round number. On the downside, 0.94 is the immediate support region to protect, with a break lower probably accelerating losses to 0.9385 ahead of 0.9370.