14 Mar 2014
AUD/USD in highs near 0.9040
FXStreet (Edinburgh) - The Aussie dollar is back to the positive ground on Friday, pushing the AUD/USD back to the 0.9040/45 region, posting fresh intraday highs at the same time.
AUD/USD bounces off 0.9000
After hitting fresh lows around the 0.900 psychological handle, the pair managed to pick up pace and embark in the current correction higher towards 0.9040. Spot thus recover part of the ground lost since yesterday’s peaks near 0.9110. “We expect that with the event risk of the Crimean referendum on Sunday, and the last minute meetings between US and Russian officials not planned until Saturday, we may see a further sell-off in risky assets as market participants attempt to close out of positions ahead of the market close”, assessed Tim Davis, Strategist at TD Securities.
AUD/USD important levels
The pair is now up 0.01% at 0.9032 with the initial resistance at 0.9135 (high Mar.7) ahead of 0.9152 (high Dec.11) and then 0.9155 (200-d MA). On the downside, a breach of 0.8930 (50-d MA) would expose 0.8923 (low Mar.12) and finally 0.8909 (low Mar.4).
AUD/USD bounces off 0.9000
After hitting fresh lows around the 0.900 psychological handle, the pair managed to pick up pace and embark in the current correction higher towards 0.9040. Spot thus recover part of the ground lost since yesterday’s peaks near 0.9110. “We expect that with the event risk of the Crimean referendum on Sunday, and the last minute meetings between US and Russian officials not planned until Saturday, we may see a further sell-off in risky assets as market participants attempt to close out of positions ahead of the market close”, assessed Tim Davis, Strategist at TD Securities.
AUD/USD important levels
The pair is now up 0.01% at 0.9032 with the initial resistance at 0.9135 (high Mar.7) ahead of 0.9152 (high Dec.11) and then 0.9155 (200-d MA). On the downside, a breach of 0.8930 (50-d MA) would expose 0.8923 (low Mar.12) and finally 0.8909 (low Mar.4).