6 Jun 2013
AUD/USD in session highs above 0.9650
FXstreet.com (Barcelona) - What a comeback for the Aussie! Climbing to fresh intraday highs above 0.9660 after bottoming out in the boundaries of 0.9430.
Spiralling risk appetite is sinking the greenback and pushing the risk-associated assets to fresh highs on Thursday, after the ECB left intact its monetary policy. “Australia’s soft GDP report and the RBA’s ongoing easing bias are helping maintain AUD underperformance. With some fair value estimates in the 0.94 area, there is a case for consolidation but we suspect we see some work with a 0.93 handle first”, suggested Sean Callow, Strategist at Westpac.
The pair is now advancing 0.84% en 0.9622 with the next resistance at 0.9792 (high Jun.3) ahead of 0.9842 (high May 21) and 0.9889 (MA200w). On the downside, a violation of 0.9404 (high 2009) would expose 0.9388 (low 2011) and then 0.9381 (high Apr.2010).
Spiralling risk appetite is sinking the greenback and pushing the risk-associated assets to fresh highs on Thursday, after the ECB left intact its monetary policy. “Australia’s soft GDP report and the RBA’s ongoing easing bias are helping maintain AUD underperformance. With some fair value estimates in the 0.94 area, there is a case for consolidation but we suspect we see some work with a 0.93 handle first”, suggested Sean Callow, Strategist at Westpac.
The pair is now advancing 0.84% en 0.9622 with the next resistance at 0.9792 (high Jun.3) ahead of 0.9842 (high May 21) and 0.9889 (MA200w). On the downside, a violation of 0.9404 (high 2009) would expose 0.9388 (low 2011) and then 0.9381 (high Apr.2010).