26 Jul 2013
AUD/USD easing from highs
FXstreet.com (Edinburgh) - After reaching once again the boundaries of 0.9300 the figure, the AUD/USD was again rejected and is currently testing the area of 0.9260/65 on Friday.
AUD/USD remains bearish medium term
The pair is now posting gains for two straight weeks for the first time since the uninterrupted decline from peaks around 1.0600 in mid-April. The research team at TD Securities commented “After two months of steep depreciation, the AUD has taken a bit of a breather so far this month, stabilising within a range of USD 0.90/93. In the next month or so, we suspect it’s bear territory for the AUDUSD, and a re-test of the key 90c is not out of the question”.
AUD/USD key levels
As of writing the pair is advancing 0.27% at 0.9270 with the next resistance at 0.9320 (high Jul.24) ahead of 0.9340 (high Jun.27) and then 0.9345 (high Jun.26). On the downside, a breach of 0.9230 (low Jul.26) would bring 0.9217 (MA30d) and finally 0.9200 (psychological level).
AUD/USD remains bearish medium term
The pair is now posting gains for two straight weeks for the first time since the uninterrupted decline from peaks around 1.0600 in mid-April. The research team at TD Securities commented “After two months of steep depreciation, the AUD has taken a bit of a breather so far this month, stabilising within a range of USD 0.90/93. In the next month or so, we suspect it’s bear territory for the AUDUSD, and a re-test of the key 90c is not out of the question”.
AUD/USD key levels
As of writing the pair is advancing 0.27% at 0.9270 with the next resistance at 0.9320 (high Jul.24) ahead of 0.9340 (high Jun.27) and then 0.9345 (high Jun.26). On the downside, a breach of 0.9230 (low Jul.26) would bring 0.9217 (MA30d) and finally 0.9200 (psychological level).