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22 Oct 2013
AUD/USD on gradual descent below 0.9650
FXstreet.com (Chicago) - AUD/USD edges down printing gradual lower highs and lows against a stronger USD.
Perspective
According to FXstreet.com analyst, Valeria Bednarik, “the AUD/USD traded in a tight 40 pips range, retracing from 0.9680 turned into immediate resistance. Technical readings both in 1 and 4 hours chart maintain a quite neutral stance suggesting little chances of moving far beyond current levels, over the upcoming hours. Some Chinese data may affect the pair temporarily yet as long as above 0.9600/10, the upside continues to be favored.” US job market data is due later in the day.
AUD/USD Technical Levels
Technically speaking, the pair is offered at 0.9647 and oscillates between the supports aligned at 0.9637 (October 18th lows), 0.9598 (October 17th lows) followed by 0.9549 (October 15th highs) and the resistances set at 0.9677 (October 17th highs), 0.9715 (May 5th lows) ahead of 0.9743 (May 21st lows).
Perspective
According to FXstreet.com analyst, Valeria Bednarik, “the AUD/USD traded in a tight 40 pips range, retracing from 0.9680 turned into immediate resistance. Technical readings both in 1 and 4 hours chart maintain a quite neutral stance suggesting little chances of moving far beyond current levels, over the upcoming hours. Some Chinese data may affect the pair temporarily yet as long as above 0.9600/10, the upside continues to be favored.” US job market data is due later in the day.
AUD/USD Technical Levels
Technically speaking, the pair is offered at 0.9647 and oscillates between the supports aligned at 0.9637 (October 18th lows), 0.9598 (October 17th lows) followed by 0.9549 (October 15th highs) and the resistances set at 0.9677 (October 17th highs), 0.9715 (May 5th lows) ahead of 0.9743 (May 21st lows).