12 Jul 2013
AUD/USD pushes lower into European session
FXstreet.com (Barcelona) - Having spent much of yesterday giving back its Post FOMC gains, AUD/USD looks to have stabilised overnight, finding support at the medium term uptrend from the weekly low at 0.9042.
Overnight saw Australian Home Loans increase in May but still miss forecasts, but improve in Investment Lending for Homes. Japanese Industrial Production YoY still declined, albeit less than previous. Emmanuel Ng is not expecting any breakouts today, commenting, “expect a 0.9035-0.9320 range to prevail ahead of the Chinese data next Monday.” Ahead we have EU Industrial Production at 09:00 GMT, before The Michigan Sentiment Index at 13:55 GMT.
AUD/USD to remain bearish technically
Overnight AUD/USD made a high at 0.9188, before declining to where it is currently trading at 0.9166. Mataf.net analysts are bearish on the pair and can see support below at 0.9120, 0.9085 and 0.9040. Above they see resistance at 0.9185, 0.9235 and 0.9310. Dzhafer Medzhakhed of Chifbaw LLC believes that AUD/USD has much further to fall, highlighting the view to go long at 0.8590.
Overnight saw Australian Home Loans increase in May but still miss forecasts, but improve in Investment Lending for Homes. Japanese Industrial Production YoY still declined, albeit less than previous. Emmanuel Ng is not expecting any breakouts today, commenting, “expect a 0.9035-0.9320 range to prevail ahead of the Chinese data next Monday.” Ahead we have EU Industrial Production at 09:00 GMT, before The Michigan Sentiment Index at 13:55 GMT.
AUD/USD to remain bearish technically
Overnight AUD/USD made a high at 0.9188, before declining to where it is currently trading at 0.9166. Mataf.net analysts are bearish on the pair and can see support below at 0.9120, 0.9085 and 0.9040. Above they see resistance at 0.9185, 0.9235 and 0.9310. Dzhafer Medzhakhed of Chifbaw LLC believes that AUD/USD has much further to fall, highlighting the view to go long at 0.8590.