28 Apr 2014
AUD/USD flirting with 0.9300
FXStreet (Edinburgh) - The Aussie dollar keeps the bid tone at the beginning of the week, lifting the AUD/USD back to the boundaries of 0.9300 the figure.
AUD/USD supported at 0.9270
In a context still dominated by thin trade and scarce volatility, the pair is slowly recovering the ground lost after hitting peaks near 0.9470 in mid-April. No docket in Oz today although falling iron ore prices could still be a threat to the pair. “We believe the AUD is more or less fair value when compared with iron ore and copper prices, but risks being overvalued if it rallies much further from here”, commented Annette Beacher and Prash Newnaha, Strategists at TD Securities.
AUD/USD key levels
The pair is now up 0.25% at 0.9302 with the next resistance at 0.9425 (high Apr.15) ahead of 0.9426 (high Apr.14) and then 0.9461 (high Apr.10). On the flip side, a breakdown of 0.9254 (low Apr.7) would aim for 0.9225 (low Apr.4) and then 0.9155 (low Mar.26).
AUD/USD supported at 0.9270
In a context still dominated by thin trade and scarce volatility, the pair is slowly recovering the ground lost after hitting peaks near 0.9470 in mid-April. No docket in Oz today although falling iron ore prices could still be a threat to the pair. “We believe the AUD is more or less fair value when compared with iron ore and copper prices, but risks being overvalued if it rallies much further from here”, commented Annette Beacher and Prash Newnaha, Strategists at TD Securities.
AUD/USD key levels
The pair is now up 0.25% at 0.9302 with the next resistance at 0.9425 (high Apr.15) ahead of 0.9426 (high Apr.14) and then 0.9461 (high Apr.10). On the flip side, a breakdown of 0.9254 (low Apr.7) would aim for 0.9225 (low Apr.4) and then 0.9155 (low Mar.26).