25 Jun 2013
AUD/USD extends its correction
Fxstreet.com (Edinburgh) - The Aussie dollar is recovering ground from yesterday’s lows in the vicinity of 0.9150, pushing the AUD/USD to the current area of 0.9250.
Lower UST yields adding to the upside in AUD/USD
The recent ascent of UST yields after last week’s comments by Chairman Bernanke seem to have faltered in recent highs, giving some oxygen to the risk-associated assets. “Capped by Fed tapering but supported by cheapness on crosses. AUD/USD to stay in 0.9150/ 0.9250 range near term though downside looks most vulnerable”, commented Sean Callow, Strategist at Westpac.
AUD/USD key levels
As of writing, the pair is up 0.08% at 0.9258 facing the next hurdle at 0.9327 (low Jun.11) ahead of 0.9528 (Resistance line) and then 0.9665 (peak Jun.14). On the flip side, a break below the psychological support at 0.9000 would expose 0.8871 (high Jul.2007) and then 0.8770 (low Aug.2010).
Lower UST yields adding to the upside in AUD/USD
The recent ascent of UST yields after last week’s comments by Chairman Bernanke seem to have faltered in recent highs, giving some oxygen to the risk-associated assets. “Capped by Fed tapering but supported by cheapness on crosses. AUD/USD to stay in 0.9150/ 0.9250 range near term though downside looks most vulnerable”, commented Sean Callow, Strategist at Westpac.
AUD/USD key levels
As of writing, the pair is up 0.08% at 0.9258 facing the next hurdle at 0.9327 (low Jun.11) ahead of 0.9528 (Resistance line) and then 0.9665 (peak Jun.14). On the flip side, a break below the psychological support at 0.9000 would expose 0.8871 (high Jul.2007) and then 0.8770 (low Aug.2010).