13 Dec 2013
AUD/USD correcting higher after Thursday's selling hysteria
FXstreet.com (Bali) - The AUD/USD is moving in a gentle upward slope as interest to engage in trading the pair has temporarily vanished as the market digests the latest jawboning from RBA Stevens.
AUD/USD to fill gaps before heading lower again?
In view of John Noonan, Head of IFR Markets: "AUD/USD appears poised to fill a few gaps after deep move lower after price gapped from 0.9050 to 0.8960 after Stevens "85 cents" comment." Noonan sees a recovery above 0.8975 exposing 0.9010 before bearish trend resumes, saying "selling rallies remains favoured strategy."
AUD/USD looks oversold for Friday
According to Jim Langlands, Founder at FXCharts: "It is looking as though it will see the 2013 low at 0.8848 sooner rather than later." However, the Analyst adds "I am not sure that we are heading there today though, and the hourlies look rather oversold, suggesting that the session lows may hold for much of the day we head into the weekend."
AUD/USD to fill gaps before heading lower again?
In view of John Noonan, Head of IFR Markets: "AUD/USD appears poised to fill a few gaps after deep move lower after price gapped from 0.9050 to 0.8960 after Stevens "85 cents" comment." Noonan sees a recovery above 0.8975 exposing 0.9010 before bearish trend resumes, saying "selling rallies remains favoured strategy."
AUD/USD looks oversold for Friday
According to Jim Langlands, Founder at FXCharts: "It is looking as though it will see the 2013 low at 0.8848 sooner rather than later." However, the Analyst adds "I am not sure that we are heading there today though, and the hourlies look rather oversold, suggesting that the session lows may hold for much of the day we head into the weekend."