7 Nov 2013
AUD/USD, aftershock mode?
FXstreet.com (Chicago) - AUD/USD fell on AiG performance of construction index results, better than expected while market participants expected labor data also in Australia.
The AiG results surprised positively at 54.4 vs. past 47.6. Earlier in the US, Wall Street closed with mixed results on “unclean” data that evidences mixed healthy signals for the economy.
AUD/USD Technical Levels
Price action reveals a strong decline on Australian data release sending the pair close to the 0.9515 zone. Finding grounds, the pair attempts to get further from immediate support aligned at 0.9514 (October 29th highs) that if broken will face 0.9459 (November 4th lows) ahead of 0.9427 (November 2nd lows). On the upside, resistances are aligned at 0.9554 (October 14th highs), 0.9621 (October 28th highs) followed by 0.9673 (October 24th highs).
The AiG results surprised positively at 54.4 vs. past 47.6. Earlier in the US, Wall Street closed with mixed results on “unclean” data that evidences mixed healthy signals for the economy.
AUD/USD Technical Levels
Price action reveals a strong decline on Australian data release sending the pair close to the 0.9515 zone. Finding grounds, the pair attempts to get further from immediate support aligned at 0.9514 (October 29th highs) that if broken will face 0.9459 (November 4th lows) ahead of 0.9427 (November 2nd lows). On the upside, resistances are aligned at 0.9554 (October 14th highs), 0.9621 (October 28th highs) followed by 0.9673 (October 24th highs).