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25 Jun 2013
AUD/USD rallies back into positive territory
FXstreet.com (New York) - The AUD/USD foreign exchange rate has successfully rebounded off of an earlier plunge towards the depths of 0.9220 earlier during US trading Tuesday.
AUD/USD cannot hold 0.9300 level
Since an earlier drop, the AUD/USD technical pair has recovered the mark of 0.9256 in these moments, still operating below its earlier highs that threatened the 0.9300 barrier. According to the Mataf.net analyst team, a further rise in the exchange rate will bring the AUD/USD to resistance at 0.9317, then 0.9383, and 0.9468.
AUD/USD slide off of 1.0585 not complete
“The AUD/USD price action below 0.9500 is still seen as forming the last legs of the slide from 1.0585 – a failure to sustain levels above 0.9400 has triggered extensions of the downtrend.” notes Tim Riddell, Head of Global Markets Research at ANZ.
AUD/USD cannot hold 0.9300 level
Since an earlier drop, the AUD/USD technical pair has recovered the mark of 0.9256 in these moments, still operating below its earlier highs that threatened the 0.9300 barrier. According to the Mataf.net analyst team, a further rise in the exchange rate will bring the AUD/USD to resistance at 0.9317, then 0.9383, and 0.9468.
AUD/USD slide off of 1.0585 not complete
“The AUD/USD price action below 0.9500 is still seen as forming the last legs of the slide from 1.0585 – a failure to sustain levels above 0.9400 has triggered extensions of the downtrend.” notes Tim Riddell, Head of Global Markets Research at ANZ.