3 Feb 2014
AUD/USD rejected from highs
FXStreet (Córdoba) - The AUD/USD was strongly rejected from an 11-day high and almost completely erased intraday gains during the American afternoon as disappointing US ISM manufacturing PMI triggered risk aversion.
The AUD/USD fell more than 60 pips from a high of 0.8832 all the way back toward the 0.8765 area. At time of writing, the pair is trading at 0.8770, virtually unchanged since opening as investors gear up for the RBA monetary policy decision that will take place next Asian session.
AUD/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet notes that the pair holds a positive tone but only steady gains beyond 0.8820 may see further advances in the upcoming days.
The AUD/USD fell more than 60 pips from a high of 0.8832 all the way back toward the 0.8765 area. At time of writing, the pair is trading at 0.8770, virtually unchanged since opening as investors gear up for the RBA monetary policy decision that will take place next Asian session.
AUD/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet notes that the pair holds a positive tone but only steady gains beyond 0.8820 may see further advances in the upcoming days.