7 Aug 2013
AUD/USD rebounds back to 0.9000
FXstreet.com (New York) - The AUD/USD foreign exchange rate started to drift lower during the afternoon of US trading, though quickly reversed back towards the 0.9000 level.
AUD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The 0.8925-intraday support managed to temporarily halt the decline; however the bearish bias continues to be dominant for the AUD/USD and is expected to continue. 0.9000 is the key resistance that should remain intact for the bearish momentum to remain persistent.”
The AUD/USD is now trading comfortably at 0.9003, up +0.21% above its opening at the time of writing. Briefing the technicals, the AUD/USD will look to test resistance at 0.9014, onto 0.9058, and 0.9111, calculates the Mataf.net Analyst Team.
AUD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The 0.8925-intraday support managed to temporarily halt the decline; however the bearish bias continues to be dominant for the AUD/USD and is expected to continue. 0.9000 is the key resistance that should remain intact for the bearish momentum to remain persistent.”
The AUD/USD is now trading comfortably at 0.9003, up +0.21% above its opening at the time of writing. Briefing the technicals, the AUD/USD will look to test resistance at 0.9014, onto 0.9058, and 0.9111, calculates the Mataf.net Analyst Team.