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9 Aug 2013
AUD/USD probing the 0.9200 region
FXstreet.com (New York) - The AUD/USD technical pair has been held at the 0.9200 region, unable to neither breakout past this barrier (0.9209 session high), nor relinquish its hold on the area.
Presently, the AUD/USD is now trading at 0.9203, presently securing a robust gain of +1.06% above its opening. Briefing the technicals, the AUD/USD faces resistances up to 0.9229, onto 0.9244, and finally 0.9268.
AUD/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “AUD/USD continues to correct higher and is well placed to challenge the 0.9131 downtrend. The risk has grown that we could see this trendline breached, the 240 minute chart is suggesting further strength to 0.9240. Between here and 0.9320 we should see failure and the resumption of the longer-term bear trend. Daily cloud resistance is seen at 0.9303 and we look for this zone to cap.”
Presently, the AUD/USD is now trading at 0.9203, presently securing a robust gain of +1.06% above its opening. Briefing the technicals, the AUD/USD faces resistances up to 0.9229, onto 0.9244, and finally 0.9268.
AUD/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “AUD/USD continues to correct higher and is well placed to challenge the 0.9131 downtrend. The risk has grown that we could see this trendline breached, the 240 minute chart is suggesting further strength to 0.9240. Between here and 0.9320 we should see failure and the resumption of the longer-term bear trend. Daily cloud resistance is seen at 0.9303 and we look for this zone to cap.”