23 Dec 2013
AUD/USD continues to lift as session wears on; upside target at least 0.8990
FXstreet.com (Barcelona) - The AUD/USD continues recent lift on hopes that China is injecting stimulus and US is still dovish despite last week’s tapering announcement.
AUD/USD traders to monitor US data later in the session
With no Aussie data due out Monday, AUD/USD traders will be relegated to reacting to US data points due out starting at 13:30 GMT:
• Chicago Fed National Activity Index
• Personal Consumption and Spending data
• Reuters / University of Michigan Consumer Sentiment Index
Technical outlook for AUD/USD
Technicians say the AUD/USD continues to work higher in what they feel is a fourth wave bounce – with the minimum upside target being 0.8990 and the maximum upside target would be 0.9266. In the shorter-term, support comes in at the recent lows at 0.8990 and resistance comes in at the 12/16 intraday high of 0.8969.
AUD/USD traders to monitor US data later in the session
With no Aussie data due out Monday, AUD/USD traders will be relegated to reacting to US data points due out starting at 13:30 GMT:
• Chicago Fed National Activity Index
• Personal Consumption and Spending data
• Reuters / University of Michigan Consumer Sentiment Index
Technical outlook for AUD/USD
Technicians say the AUD/USD continues to work higher in what they feel is a fourth wave bounce – with the minimum upside target being 0.8990 and the maximum upside target would be 0.9266. In the shorter-term, support comes in at the recent lows at 0.8990 and resistance comes in at the 12/16 intraday high of 0.8969.