22 Jul 2013
AUD/USD unable to breach 0.9200 level
FXstreet.com (New York) - The AUD/USD technical pair has been moving quite statically Monday morning, unable to breakout thus far during Asian trading.
AUD/USD event risk
Later this week, Australia will report its Q2 CPI (Wednesday), which will signal whether the Reserve Bank of Australia will act on its easing bias and cut interest rates at its next meeting on August 6 – ultimately the looming event hanging over the AUD/USD.
AUD/USD technical bias
The AUD/USD foreign exchange rate is now trading in positive territory up +0.03% and trading at session highs at 0.9182 during Asian trading. In terms of the technical levels, resistances will trigger at 0.9196 (50-day SMA), 0.9197 (July 9 high), onto 0.9231 (July 19 high). Conversely, supportive means will occur at 0.9148 (July 18 low).
AUD/USD event risk
Later this week, Australia will report its Q2 CPI (Wednesday), which will signal whether the Reserve Bank of Australia will act on its easing bias and cut interest rates at its next meeting on August 6 – ultimately the looming event hanging over the AUD/USD.
AUD/USD technical bias
The AUD/USD foreign exchange rate is now trading in positive territory up +0.03% and trading at session highs at 0.9182 during Asian trading. In terms of the technical levels, resistances will trigger at 0.9196 (50-day SMA), 0.9197 (July 9 high), onto 0.9231 (July 19 high). Conversely, supportive means will occur at 0.9148 (July 18 low).