28 Oct 2013
AUD/USD targets 0.96 front
FXstreet.com (Chicago) - AUD/USD consolidates a potential reversal approaching the 0.96 front at Tokyo’s opening on light data in Asia and ahead of US facts later on.
AUD/USD Technical Levels
After trading to the downside for almost two weeks, the pair seems to forge grounds around the 0.96 front to print conservative higher highs and lows. Offered at 0.9594, the pair navigates between the supports aligned at 0.9568 (October 23rd lows), 0.9521 (October 16th lows) ahead of 0.9483 (October 10th highs) and the resistances aligned at 0.96 (October 17th lows), 0.9644 (October 22nd lows) ahead of 0.9680 (October 18th highs).
According to Valeria Bednarik, analyst from FXstreet.com, “the AUD/USD test 0.9570 support, holding a negative tone both in the 1 and the 4 hours charts, although with no signs of bearish strength at the time being. Still the risk of a downside continuation is present, with a break below recent lows favoring a quick approach to the 0.9520 immediate support.”
AUD/USD Technical Levels
After trading to the downside for almost two weeks, the pair seems to forge grounds around the 0.96 front to print conservative higher highs and lows. Offered at 0.9594, the pair navigates between the supports aligned at 0.9568 (October 23rd lows), 0.9521 (October 16th lows) ahead of 0.9483 (October 10th highs) and the resistances aligned at 0.96 (October 17th lows), 0.9644 (October 22nd lows) ahead of 0.9680 (October 18th highs).
According to Valeria Bednarik, analyst from FXstreet.com, “the AUD/USD test 0.9570 support, holding a negative tone both in the 1 and the 4 hours charts, although with no signs of bearish strength at the time being. Still the risk of a downside continuation is present, with a break below recent lows favoring a quick approach to the 0.9520 immediate support.”