26 Sep 2013
Aussie Dollar so weak that even a falling DXY could not boost the AUD/USD
FXstreet.com (Barcelona) - The global “risk off” attitude took its toll on the AUD/USD Wednesday as the flight from the Aussie Dollar was apparently more intense than the budget / QE-related selling in the DXY.
AUD/USD action to be driven by risk mood and US data Thursday
Thursday, we are likely to see a continuation of the “risk-trade” / FOMC / US budget influences on the AUD/USD. However, additionally traders will be monitoring the US GDP and pending home sales data due out early in the US session.
Technical outlook for AUD/USD
Technicians say the AUD/USD has room to fall as “correction support” does not come into play until 0.9282. AUD/USD bulls will need to hold firm at that level if they are to have a chance at victory short-term. The next target on the downside if 0.9282 fails is 0.9253. Resistance comes into play at 0.9456.
AUD/USD action to be driven by risk mood and US data Thursday
Thursday, we are likely to see a continuation of the “risk-trade” / FOMC / US budget influences on the AUD/USD. However, additionally traders will be monitoring the US GDP and pending home sales data due out early in the US session.
Technical outlook for AUD/USD
Technicians say the AUD/USD has room to fall as “correction support” does not come into play until 0.9282. AUD/USD bulls will need to hold firm at that level if they are to have a chance at victory short-term. The next target on the downside if 0.9282 fails is 0.9253. Resistance comes into play at 0.9456.