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19 Jun 2013
AUD/USD back to 0.9500
FXstreet.com (Edinburgh) - The intraday bull run of the Aussie dollar seems to have stalled around 0.9520, initiating a correction lower and dragging the AUD/USD to the current sub 0.9500 levels.
AUD/USD hinges on FOMC near-term
The pair would remain under pressure ahead of the FOMC meeting due later today, as the announcements by the Fed will surely impact on the greenback. According to Currency Strategist I.Spivak at DailyFX, “Prices are testing support at 0.9415, the 23.6% Fibonacci expansion, with a break beneath that targeting the 38.3% level at 0.9260. Near-term trend line resistance is at 0.9655. A move above that targets a larger downward-sloping barrier at 0.9882”.
AUD/USD levels to watch
At the moment the pair is up 0.06% at 0.9490 facing the next hurdle at 0.9510 (low Jun.17) ahead of0.9526 (MA10d) and finally 0.9574 (high Jun.18). On the flip side, a breakdown of 0.9440 (low Jun.18) would expose 0.9430 (low Jun.13) and then 0.9416 (low Jun.12).
AUD/USD hinges on FOMC near-term
The pair would remain under pressure ahead of the FOMC meeting due later today, as the announcements by the Fed will surely impact on the greenback. According to Currency Strategist I.Spivak at DailyFX, “Prices are testing support at 0.9415, the 23.6% Fibonacci expansion, with a break beneath that targeting the 38.3% level at 0.9260. Near-term trend line resistance is at 0.9655. A move above that targets a larger downward-sloping barrier at 0.9882”.
AUD/USD levels to watch
At the moment the pair is up 0.06% at 0.9490 facing the next hurdle at 0.9510 (low Jun.17) ahead of0.9526 (MA10d) and finally 0.9574 (high Jun.18). On the flip side, a breakdown of 0.9440 (low Jun.18) would expose 0.9430 (low Jun.13) and then 0.9416 (low Jun.12).