27 Jun 2013
AUD/USD back around 0.9300
Fxstreet.com (Edinburgh) - The Aussie dollar is now losing traction, dragging the AUD/USD to the boundaries of the key support at 0.9300 after hitting highs around 0.9340 overnight.
AUD/USD bias tilted to the downside
There is not much in terms of results in the Australian economy as of late. On the opposite direction, politics has been in centre stage, as K.Rudd will now be the Labor party leader after J.Guillard stepped down on Wednesday, with ample possibilities to be the next PM. “While there is some prospect of an uncertainty factor creeping in depending on the message from incoming opinion polls and what the bookies do with that in terms of election odds, impact on equity and currency market sentiment is likely to be very modest at best”, commented the research team at NAB.
AUD/USD key levels
As of writing the pair is up 0.31% at 0.9307 facing the next hurdle at 0.9345 (high Jun.26) followed by 0.9355 (high Jun.19) and finally 0.9373 (MA10d). On the flip side, a breakdown of 0.9246 (50% of 0.9148-0.9345) would open the door to 0.9236 (low Jun.26) and then 0.9197 (low Jun.25).
AUD/USD bias tilted to the downside
There is not much in terms of results in the Australian economy as of late. On the opposite direction, politics has been in centre stage, as K.Rudd will now be the Labor party leader after J.Guillard stepped down on Wednesday, with ample possibilities to be the next PM. “While there is some prospect of an uncertainty factor creeping in depending on the message from incoming opinion polls and what the bookies do with that in terms of election odds, impact on equity and currency market sentiment is likely to be very modest at best”, commented the research team at NAB.
AUD/USD key levels
As of writing the pair is up 0.31% at 0.9307 facing the next hurdle at 0.9345 (high Jun.26) followed by 0.9355 (high Jun.19) and finally 0.9373 (MA10d). On the flip side, a breakdown of 0.9246 (50% of 0.9148-0.9345) would open the door to 0.9236 (low Jun.26) and then 0.9197 (low Jun.25).