2 Jul 2014
AUD/USD contained by 0.9450
FXStreet (Córdoba) - After briefly rising above the 0.9500 mark, the AUD/USD entered a corrective phase and trimmed some of yesterday’s gains during the Asian session.
The AUD/USD retreated from 8-month highs amid profit taking following a steep rally in the aftermath of a less dovish than expected RBA and broader risk appetite. The AUD/USD pulled back from a peak of 0.9504 and slid all the way back to 0.9448 before finding support. At time of writing, the AUD/USD is trading at the 0.9460 area, 0.37% below its opening price.
AUD/USD levels to watch
In terms of technical levels, the Aussie could find next resistances at 0.9504 (Jul 1 high), 0.9527 (Nov 7 high) and 0.9543 (Nov 6 high). On the other hand, supports are now seen at 0.9450 (Jul 2 low), 0.9400 (psychological level), 0.9386 (Jun 30 low/20-day SMA) and 0.9353 (Jun 25 low).
The AUD/USD retreated from 8-month highs amid profit taking following a steep rally in the aftermath of a less dovish than expected RBA and broader risk appetite. The AUD/USD pulled back from a peak of 0.9504 and slid all the way back to 0.9448 before finding support. At time of writing, the AUD/USD is trading at the 0.9460 area, 0.37% below its opening price.
AUD/USD levels to watch
In terms of technical levels, the Aussie could find next resistances at 0.9504 (Jul 1 high), 0.9527 (Nov 7 high) and 0.9543 (Nov 6 high). On the other hand, supports are now seen at 0.9450 (Jul 2 low), 0.9400 (psychological level), 0.9386 (Jun 30 low/20-day SMA) and 0.9353 (Jun 25 low).