25 Mar 2014
AUD/USD capped by 0.9160
FXStreet (Edinburgh) - The AUD/USD continues its march higher on Tuesday, although the bull run seems to have run out of legs around 0.9160.
AUD/USD well supported by 0.9000
A favourable context for risk-associated assets plus the better sentiment around the Aussie as of late would be behind the current rebound from last week’s levels near 0.9000. The domestic docket offers only New Home Sales gauged by HIA (Thursday) of note, although traders would closely follow speeches by RBA’s Lowe (tonight) and Stevens (tomorrow). “A close above .9168 would imply a deeper rally to .9338, the 61.8% retracement”, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank
AUD/USD levels to consider
At the moment the pair is advancing 0.14% at 0.9145 and a surpass of 0.9150 (high Mar.24) would expose 0.9152 (high Dec.11) and finally 0.9169 (high Dec.2). On the flip side, the initial support aligns at 0.9100 (trendline from April 2013) ahead of 0.9048 (low Mar.24) followed by 0.9032 (low Mar.21).
AUD/USD well supported by 0.9000
A favourable context for risk-associated assets plus the better sentiment around the Aussie as of late would be behind the current rebound from last week’s levels near 0.9000. The domestic docket offers only New Home Sales gauged by HIA (Thursday) of note, although traders would closely follow speeches by RBA’s Lowe (tonight) and Stevens (tomorrow). “A close above .9168 would imply a deeper rally to .9338, the 61.8% retracement”, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank
AUD/USD levels to consider
At the moment the pair is advancing 0.14% at 0.9145 and a surpass of 0.9150 (high Mar.24) would expose 0.9152 (high Dec.11) and finally 0.9169 (high Dec.2). On the flip side, the initial support aligns at 0.9100 (trendline from April 2013) ahead of 0.9048 (low Mar.24) followed by 0.9032 (low Mar.21).