26 Sep 2013
AUD/USD balloons to 0.9379 highs and deflates
FXstreet.com (Chicago) - AUD/USD was capped at 0.9379 peaks and erases most previous losses to navigate around the 0.9360 zone.
Caution prevails
Cautious market participants remain expectant of the Washington debate about the US debt crisis after hardly recovering from last week’s decision by the Fed not to taper as unemployment remains high and inflation fails to drop to aimed targets. In Australia, the aussie remains weak accumulating 0.32% losses so far against the greenback.
AUD/USD Technical Levels
Sources inform stop loss for buyers were set above 0.9415 and stop loss for sellers were placed below 0.9340. The pair was unable to breakthrough 0.94 zone and wipes out most previous gains on heavy bearish pressure. Technically speaking, the pair is offered at 0.9365 and oscillates between supports aligned at 0.9356 (September 22nd lows), 0.9317 (September 10th lows) followed by 0.9280 (September 16th lows) and the resistances set at 0.9391 (September 13th highs), 0.9431 (September 22nd highs) ahead of 0.9478 (September 18th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered below the EMA20.
Caution prevails
Cautious market participants remain expectant of the Washington debate about the US debt crisis after hardly recovering from last week’s decision by the Fed not to taper as unemployment remains high and inflation fails to drop to aimed targets. In Australia, the aussie remains weak accumulating 0.32% losses so far against the greenback.
AUD/USD Technical Levels
Sources inform stop loss for buyers were set above 0.9415 and stop loss for sellers were placed below 0.9340. The pair was unable to breakthrough 0.94 zone and wipes out most previous gains on heavy bearish pressure. Technically speaking, the pair is offered at 0.9365 and oscillates between supports aligned at 0.9356 (September 22nd lows), 0.9317 (September 10th lows) followed by 0.9280 (September 16th lows) and the resistances set at 0.9391 (September 13th highs), 0.9431 (September 22nd highs) ahead of 0.9478 (September 18th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered below the EMA20.