22 Jul 2013
AUD/USD trading at 0.9260
FXstreet.com (New York) - The AUD/USD technical pair has retested the 0.9260 region Monday during US trading, still shy of its earlier highs at 0.9272.
In these moments, the AUD/USD is entrenched in positive territory, now operating at 0.9259, up +0.87% during US trading. Technically speaking, the AUD/USD remains capped by resistances at 0.9306, onto 0.9345, and 0.9416, notes the Danske Research Team.
AUD/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “The AUD/USD has held broadly sideways for over one month – this served the purpose of neutralizing the momentum indicators and giving time for the market to absorb its recent losses. While capped by key resistance at 0.9388/0.9404 (the 2011 low and highs from 2009 and 2010) our negative bias is entrenched. To trigger another leg lower we suspect that the market will need to sustain a break back below 0.9000.”
In these moments, the AUD/USD is entrenched in positive territory, now operating at 0.9259, up +0.87% during US trading. Technically speaking, the AUD/USD remains capped by resistances at 0.9306, onto 0.9345, and 0.9416, notes the Danske Research Team.
AUD/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “The AUD/USD has held broadly sideways for over one month – this served the purpose of neutralizing the momentum indicators and giving time for the market to absorb its recent losses. While capped by key resistance at 0.9388/0.9404 (the 2011 low and highs from 2009 and 2010) our negative bias is entrenched. To trigger another leg lower we suspect that the market will need to sustain a break back below 0.9000.”