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9 Oct 2013
AUD/USD on comeback aiming 0.9450 mark
FXstreet.com (Chicago) - AUD/USD strengthens after reaching bottoms ahead of Tokyo’s opening and shortly after announcement of new Fed Chairman in the US and the release of worst than expected ND data.
Data recap
Ahead of Westpac consumer confidence results in Australia, the Aussie outperforms the greenback now weaker 0.27% for the day. On official White House release, the announcement of Yellen as the new replacement for Bernanke as Fed’s Chairman comes with no surprises as she was on the pool of potential options.
AUD/USD Technical Levels
Price action reveals a pair that fell strongly from 0.9480 zone to hit bottoms around 0.9417. Offered at 0.9417, the pair oscillates between supports aligned at 0.94 (October 7th lows), 0.9363 (October 3rd lows) followed by 0.9332 (October 2nd lows) and the resistances set at 0.9457 (October 4th highs), 0.9484 (October 8th highs) ahead of 0.9525 (September 19th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
Data recap
Ahead of Westpac consumer confidence results in Australia, the Aussie outperforms the greenback now weaker 0.27% for the day. On official White House release, the announcement of Yellen as the new replacement for Bernanke as Fed’s Chairman comes with no surprises as she was on the pool of potential options.
AUD/USD Technical Levels
Price action reveals a pair that fell strongly from 0.9480 zone to hit bottoms around 0.9417. Offered at 0.9417, the pair oscillates between supports aligned at 0.94 (October 7th lows), 0.9363 (October 3rd lows) followed by 0.9332 (October 2nd lows) and the resistances set at 0.9457 (October 4th highs), 0.9484 (October 8th highs) ahead of 0.9525 (September 19th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.