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11 Sep 2013
AUD/USD trading at 0.9300 region
FXstreet.com (Lisbon) - The AUD/USD foreign exchange rate overtook the 0.9300 level earlier today and peaked at 0.9320 (session high), before retracing back to 0.9300 in recent moments.
According to the Technical Analyst Team at ICN.com, “The AUD/USD hit the ceiling of the sideways range at the full target 0.9320-0.9345, we prefer to move to the sidelines for now, and monitor how price reacts to this key resistance, a break and steady trading above this level should signal a medium term bullish reversal.”
AUD/USD technical levels
The AUD/USD still remains resilient in face of multiple factors weighing on it, event risks, RBA cuts looming, etc. Regardless, with Australian economic data due later today, the pair is now trading at 0.9299, suffering from a fall of -0.12%. In terms of the technical levels, the AUD/USD is fortified by supportive means at 0.9301, and 0.9289, notes the Danske Research team.
According to the Technical Analyst Team at ICN.com, “The AUD/USD hit the ceiling of the sideways range at the full target 0.9320-0.9345, we prefer to move to the sidelines for now, and monitor how price reacts to this key resistance, a break and steady trading above this level should signal a medium term bullish reversal.”
AUD/USD technical levels
The AUD/USD still remains resilient in face of multiple factors weighing on it, event risks, RBA cuts looming, etc. Regardless, with Australian economic data due later today, the pair is now trading at 0.9299, suffering from a fall of -0.12%. In terms of the technical levels, the AUD/USD is fortified by supportive means at 0.9301, and 0.9289, notes the Danske Research team.