28 Jul 2014
AUD/USD regains 0.9400
FXStreet (Edinburgh) - After dipping to overnight lows near 0.9380, the AUD/USD managed to gather traction and is now retaking the 0.9400 area.
AUD/USD looks to stabilize near 0.9400
Spot is now looking to consolidate the correction lower from recent peaks around 0.9470, against a backdrop of scarce data in Oz throughout the week, bouts of risk aversion stemming from geopolitical tensions and Chinese data releases. While the AUD has not depreciated in line with fundamentals, we are heartened by its inability to rally in the current low volatility environment”, suggested Daniel Been, Analyst at ANZ.
AUD/USD levels to watch
As of writing the pair is up 0.05% at 0.9400 with the next resistance at 0.9425 (high Jul.25) followed by 0.9480 (high Jul.24) and finally 0.9499 (high Jul.2), On the flip side, a breakdown of 0.9393 (low Jul.25) would target 0.9381 (low Jul.23) en route to 0.9361 (50-d MA).
AUD/USD looks to stabilize near 0.9400
Spot is now looking to consolidate the correction lower from recent peaks around 0.9470, against a backdrop of scarce data in Oz throughout the week, bouts of risk aversion stemming from geopolitical tensions and Chinese data releases. While the AUD has not depreciated in line with fundamentals, we are heartened by its inability to rally in the current low volatility environment”, suggested Daniel Been, Analyst at ANZ.
AUD/USD levels to watch
As of writing the pair is up 0.05% at 0.9400 with the next resistance at 0.9425 (high Jul.25) followed by 0.9480 (high Jul.24) and finally 0.9499 (high Jul.2), On the flip side, a breakdown of 0.9393 (low Jul.25) would target 0.9381 (low Jul.23) en route to 0.9361 (50-d MA).