25 Sep 2013
AUD/USD pressed to 0.9372 lows; struggling to fight back above 0.9380
FXstreet.com (Chicago) - AUD/USD hit 0.9372 bottoms on intense bearish pressure after NZ data and ahead of Australian RBA financial stability review. The pair extends short-term bearish channel, printing lower lows and highs but seemingly finding grounds around the 0.9380 zone.
Price action reveals a dip below immediate support, now resistance around 0.9391 zone. Offered at 0.9377, the pair struggles to maintain grounds and oscillates between supports aligned at 0.9356 (September 22nd lows), 0.9317 (September 10th highs) ahead of 0.9280 (September 16th lows) and resistances set at 0.9391 (September 13th highs), 0.9431 (September 22nd highs) followed by 0.9478 (September 18th lows). According to the FXstreet.com trend index, the pair is strongly bearish ahead of Tokyo’s opening and remains below the EMA20. Stops for buyers were reported at 0.9430 while sellers had triggers below 0.9350.
Price action reveals a dip below immediate support, now resistance around 0.9391 zone. Offered at 0.9377, the pair struggles to maintain grounds and oscillates between supports aligned at 0.9356 (September 22nd lows), 0.9317 (September 10th highs) ahead of 0.9280 (September 16th lows) and resistances set at 0.9391 (September 13th highs), 0.9431 (September 22nd highs) followed by 0.9478 (September 18th lows). According to the FXstreet.com trend index, the pair is strongly bearish ahead of Tokyo’s opening and remains below the EMA20. Stops for buyers were reported at 0.9430 while sellers had triggers below 0.9350.