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13 Aug 2013
AUD/USD subdued amid speculations
FXstreet.com (Chicago) - AUD/USD succumbed to the strengthening of the greenback amid speculations on Fed’s impossibility to determine outcome for its bond purchasing program on mixed US data results.
Earlier in the US, the US Census Bureau published retail sales results for the month of July (MoM). At 0.2%, the growth fell short to meet expected 0.3% and decreased two thirds compared to past results. Amid speculations on Fed’s determination to continue or not 85B bond purchases, the pair maintains its price within the 0.9109 zone despite early climb at opening of the Asian session.
AUD/USD Technical Levels
Price action indicates the pair accumulates 0.40% daily losses so far, adding to 0.94% losses since the beginning of the week. Post US data, the dollar bolstered to fresh highs marking 81.80 on the USD index. At 0.9108, the pair trades between supports at 0.9098 (July 30th highs), 0.9078 (July 9th lows) ahead of 0.9050 (July 2nd lows) and resistances at 0.9140 (July 19th lows), 0.9163 (June 20th lows) followed by 0.9191 (July 13th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis.
Earlier in the US, the US Census Bureau published retail sales results for the month of July (MoM). At 0.2%, the growth fell short to meet expected 0.3% and decreased two thirds compared to past results. Amid speculations on Fed’s determination to continue or not 85B bond purchases, the pair maintains its price within the 0.9109 zone despite early climb at opening of the Asian session.
AUD/USD Technical Levels
Price action indicates the pair accumulates 0.40% daily losses so far, adding to 0.94% losses since the beginning of the week. Post US data, the dollar bolstered to fresh highs marking 81.80 on the USD index. At 0.9108, the pair trades between supports at 0.9098 (July 30th highs), 0.9078 (July 9th lows) ahead of 0.9050 (July 2nd lows) and resistances at 0.9140 (July 19th lows), 0.9163 (June 20th lows) followed by 0.9191 (July 13th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis.