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6 Aug 2013
AUD/USD completes concave ascension towards 0.9000
FXstreet.com (New York) - The AUD/USD foreign exchange rate has risen higher on a continual basis Tuesday, having now reached the heights of the 0.9000 region during US trading.
AUD/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “The AUD/USD’s 240-minute RSI has yet to confirm the new low and we note the 13 count on the 240 minute chart – both imply some consolidation ahead of further losses. We would allow for a tepid rebound and maintain a longer-term negative outlook. Near-term we would allow for 0.9083/0.9139, possibly 0.9215/20.”
AUD/USD technical bias
At the time of writing, the AUD/USD is now operating at 0.8999, having now notched a +0.75% climb thus far during US trading. In taking a look at the technicals, the pair has made short work of resistance at 0.8953, and is presently testing 0.8998 – a break of this figure will initiate correction at 0.9015, calculates the Mataf.net analyst team.
AUD/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “The AUD/USD’s 240-minute RSI has yet to confirm the new low and we note the 13 count on the 240 minute chart – both imply some consolidation ahead of further losses. We would allow for a tepid rebound and maintain a longer-term negative outlook. Near-term we would allow for 0.9083/0.9139, possibly 0.9215/20.”
AUD/USD technical bias
At the time of writing, the AUD/USD is now operating at 0.8999, having now notched a +0.75% climb thus far during US trading. In taking a look at the technicals, the pair has made short work of resistance at 0.8953, and is presently testing 0.8998 – a break of this figure will initiate correction at 0.9015, calculates the Mataf.net analyst team.