12 Nov 2013
AUD/USD relentless drive to 0.93 highway
FXstreet.com (Chicago) - AUD/USD continues trying to break above the 0.93 front printing higher highs and lows and reaching the zone three times within the past hour.
Market participants expect the Westpac consumer confidence indexes in Australia after digesting a trading session with choppy price action as evidenced by the final results at Wall Street’s closing.
AUD/USD Technical Levels
Price action reveals the pair trades around 6-week lows after extending the bearish channel that started last October 22nd and does not seem to end. Hourly and long-term charts evidence the exhaustion of a bullish momentum leaving bears free to send the pair to the grounds. Offered at 0.9295, the pair oscillates between the supports aligned at 0.9283 (September 11th lows), 0.9248 (September 14th highs) ahead of 0.9225 (September 28th lows) and the resistances set at 0.9330 (November 11th lows), 0.9365 (November 8th lows) followed by 0.9391 (November 8th highs).
Market participants expect the Westpac consumer confidence indexes in Australia after digesting a trading session with choppy price action as evidenced by the final results at Wall Street’s closing.
AUD/USD Technical Levels
Price action reveals the pair trades around 6-week lows after extending the bearish channel that started last October 22nd and does not seem to end. Hourly and long-term charts evidence the exhaustion of a bullish momentum leaving bears free to send the pair to the grounds. Offered at 0.9295, the pair oscillates between the supports aligned at 0.9283 (September 11th lows), 0.9248 (September 14th highs) ahead of 0.9225 (September 28th lows) and the resistances set at 0.9330 (November 11th lows), 0.9365 (November 8th lows) followed by 0.9391 (November 8th highs).