AUD/USD eases back to 0.9438/40

FXstreet.com (New York) - The AUD/USD technical pair reached its zenith at the 0.9461 level (intraday high) Monday, culminating in a slight easing during US trading in recent minutes.

At the time of writing, the pair has now eased back to 0.9438/40, still entrenched in positive territory up +0.36% Monday. The Mataf.net analyst team has calculated the next short-term supportive measures for the AUD/USD at 0.9542, onto 0.9633 and 0.9693. On the decline, the pair will encounter support at 0.9391, then 0.9331, and finally 0.9240.

AUD/USD bullish rebound in the cards?
According to the Technical Analyst Team at ICN.com, “The AUD/USD downtrend has continued to areas close to 261.8% Fibonacci at 0.9360, while the stochastic is currently reflecting intraday oversold signals. Moreover, a bullish attempt is likely to take place this week, and the AUD/USD's steady position above 0.9360 can support that attempt. Note that breaking the aforesaid level and settling below it is sufficient to thwarting any bullish movement and creating a powerful downside wave.”