25 Oct 2013
AUD/USD recovers support above 0.96
FXstreet.com (Chicago) - AUD/USD retraces from 0.9626 session highs but hangs on to 0.9610 printing higher highs and lows, evidencing a weaker dollar ahead of data and extending a parallel price action.
AUD/USD Technical Levels
Price action reveals a strong fall below the 0.96 front at Tokyo’s opening transitioning into a steep climb above the 0.9610 zone blocked by peaks at 0.9620. At 0.9613, the pair oscillates between the supports aligned at 0.96 (October 16th lows), 0.9568 (October 16th highs) ahead of 0.9514 (October 23rd lows) and the resistances set at 0.9641 (October 22nd lows), 0.9675 (October 20th highs) followed by 0.9756 (October 22nd highs). No major changes have happened since the last analysis made by Valeria Bednarik on the pair’s potential next move.
AUD/USD Technical Levels
Price action reveals a strong fall below the 0.96 front at Tokyo’s opening transitioning into a steep climb above the 0.9610 zone blocked by peaks at 0.9620. At 0.9613, the pair oscillates between the supports aligned at 0.96 (October 16th lows), 0.9568 (October 16th highs) ahead of 0.9514 (October 23rd lows) and the resistances set at 0.9641 (October 22nd lows), 0.9675 (October 20th highs) followed by 0.9756 (October 22nd highs). No major changes have happened since the last analysis made by Valeria Bednarik on the pair’s potential next move.