15 Nov 2013
AUD/USD consolidates above 0.9300
FXstreet.com (Edinburgh) - The Aussie dollar is extending its intraday upside on Friday, with the AUD/USD bouncing off 0.9300 the figure to current levels around 0.9340/45.
AUD/USD another week in red?
The pair continues to recover from multi-week lows near 0.9260, although it’s on its way to close the week in red figures for the fourth consecutive time, all framed within the more ample correction lower from October’s peaks beyond 0.9760. No data from Oz today and a flat US docket would leave the pair poised to thin trade, following the risk trends. Emmanuel Ng, Analyst at Ng, observed, “The AUD continued to under perform across the board on Thursday and in the near term, expect the 0.9400 level and the 55-day MA (0.9409) to continue to cast a shadow on upside prospects. Any potential EM jitters or global growth concerns may also potentially pull the pair back towards the 0.9250 neighbourhood”.
AUD/USD levels to watch
At the moment the pair is up 0.16% at 0.9338 and a surpass of 0.9388 (high Nov.14) would expose 0.9393 (high Nov.11) and then 0.9421 (low Nov.1). On the flip side, the immediate support lines up at 0.9282 (low Nov.14) followed by 0.9260 (low Nov.12) and then 0.9223 (low Sep.13).
AUD/USD another week in red?
The pair continues to recover from multi-week lows near 0.9260, although it’s on its way to close the week in red figures for the fourth consecutive time, all framed within the more ample correction lower from October’s peaks beyond 0.9760. No data from Oz today and a flat US docket would leave the pair poised to thin trade, following the risk trends. Emmanuel Ng, Analyst at Ng, observed, “The AUD continued to under perform across the board on Thursday and in the near term, expect the 0.9400 level and the 55-day MA (0.9409) to continue to cast a shadow on upside prospects. Any potential EM jitters or global growth concerns may also potentially pull the pair back towards the 0.9250 neighbourhood”.
AUD/USD levels to watch
At the moment the pair is up 0.16% at 0.9338 and a surpass of 0.9388 (high Nov.14) would expose 0.9393 (high Nov.11) and then 0.9421 (low Nov.1). On the flip side, the immediate support lines up at 0.9282 (low Nov.14) followed by 0.9260 (low Nov.12) and then 0.9223 (low Sep.13).