5 Dec 2013
AUD/USD settles at mid-range ahead of US data
FXstreet.com (Córdoba) - The AUD/USD failed to extend its recovery beyond the 0.9055 area and pulled back instead, falling into the red during the European session.
Disappointing Australian trade balance didn't help the Aussie, which has been under heavy pressure for over a month as the RBA has expressed its discomfort with a strong currency. The AUD/USD dipped below 0.9000 yesterday and hit a 3-month low of 0.8997 before bouncing. However, the recovery didn't last as the former support area at 0.9055 offered resistance.
AUD/USD technical levels
At time of writing, the AUD/USD is trading at the 0.9030 zone, virtually unchanged since opening ahead of the next string of US data, including the GDP revision. In terms of technical levels, if the AUD/USD breaks decisively below 0.9000/0.8997, next supports are seen at 0.8971 (Sep 3 low) and 0.8923 (Sep 2 low). On the flip side, resistances could be found at 0.9055 (daily high) and 0.9100 where the 10-day SMA reinforces the psychological level.
Disappointing Australian trade balance didn't help the Aussie, which has been under heavy pressure for over a month as the RBA has expressed its discomfort with a strong currency. The AUD/USD dipped below 0.9000 yesterday and hit a 3-month low of 0.8997 before bouncing. However, the recovery didn't last as the former support area at 0.9055 offered resistance.
AUD/USD technical levels
At time of writing, the AUD/USD is trading at the 0.9030 zone, virtually unchanged since opening ahead of the next string of US data, including the GDP revision. In terms of technical levels, if the AUD/USD breaks decisively below 0.9000/0.8997, next supports are seen at 0.8971 (Sep 3 low) and 0.8923 (Sep 2 low). On the flip side, resistances could be found at 0.9055 (daily high) and 0.9100 where the 10-day SMA reinforces the psychological level.