31 Jul 2013
AUD/USD testing key 0.9000 barrier
FXstreet.com (New York) - The 0.9000 region has eluded the AUD/USD during the afternoon of US trading, despite the fallout of the FOMC earlier, which saw the pair move higher though ultimately stall short of this barrier.
Earlier today in the United States, the highly anticipated FOMC interest rate decision came in at +0.25%, matching widespread expectations – subsequently this led to a general retreat of the USD across the board.
According to the Technical Analyst Team at ICN.com, “Surprisingly strong U.S. economic data triggered a major selloff earlier, pushing the pair below 0.9000 for the first time in years. Accordingly, the resumption of the overall bearish trend is more likely now, especially if price manages to hold and close the trading session below 0.9000, eying 0.8870 and 0.8600 levels as the next major downside targets.”
AUD/USD technical bias
In these moments, the AUD/USD is negotiating an exchange of 0.8997, still entrenched in negative territory, despite the movement off earlier lows Wednesday (0.8936 intraday low). In terms of the technical levels, the AUD/USD will face support at 0.8998, ahead of 0.8957, and 0.8910, notes the Danske Research Team.
Earlier today in the United States, the highly anticipated FOMC interest rate decision came in at +0.25%, matching widespread expectations – subsequently this led to a general retreat of the USD across the board.
According to the Technical Analyst Team at ICN.com, “Surprisingly strong U.S. economic data triggered a major selloff earlier, pushing the pair below 0.9000 for the first time in years. Accordingly, the resumption of the overall bearish trend is more likely now, especially if price manages to hold and close the trading session below 0.9000, eying 0.8870 and 0.8600 levels as the next major downside targets.”
AUD/USD technical bias
In these moments, the AUD/USD is negotiating an exchange of 0.8997, still entrenched in negative territory, despite the movement off earlier lows Wednesday (0.8936 intraday low). In terms of the technical levels, the AUD/USD will face support at 0.8998, ahead of 0.8957, and 0.8910, notes the Danske Research Team.