23 May 2014
AUD/USD searching for direction
FXStreet (Córdoba) - The AUD/USD found support once again at the 0.9010 area during the New York session and erased intraday losses.
The AUD/USD bounced from a daily low of 0.9013, however the pair lacked momentum to extend the recovery further and was confined to a range. Not even better-than-expected US new home sales offered inspiration to the AUD/USD. At time of writing, the Aussie is trading at the 0.9235 zone, 0.12% above its opening price but still down 1.47% this week.
AUD/USD technical perspective
Valeria Bednarik, chief analyst at FXStreet notes that the AUD/USD holds a pretty neutral tone, giving no much clues of upcoming direction, although the downside seems favored.
Bednarik see next supports at 0.9200, 0.9170 and 0.9135, while she places resistance levels at 0.9240, 0.9270 and 0.9310.
The AUD/USD bounced from a daily low of 0.9013, however the pair lacked momentum to extend the recovery further and was confined to a range. Not even better-than-expected US new home sales offered inspiration to the AUD/USD. At time of writing, the Aussie is trading at the 0.9235 zone, 0.12% above its opening price but still down 1.47% this week.
AUD/USD technical perspective
Valeria Bednarik, chief analyst at FXStreet notes that the AUD/USD holds a pretty neutral tone, giving no much clues of upcoming direction, although the downside seems favored.
Bednarik see next supports at 0.9200, 0.9170 and 0.9135, while she places resistance levels at 0.9240, 0.9270 and 0.9310.