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14 Aug 2013
AUD/USD sustains itself over 0.9100 though strong headwinds remain
FXstreet.com (New York) - The AUD/USD foreign exchange rate has moved off yesterdays lows to stabilize itself above the 0.9100 region Wednesday morning during Asian trading.
AUD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The AUD/USD retreated from levels near the 50-days SMA and pushed lower breaking below 0.9135 support, could be heading to 0.9085 next support level. An upside rebound remains possible so long as above 0.9000 level.”
“Watch out for support when the AUD/USD meets a rising trendline coming up from the August low of 0.8846. A break below that line first opens up the 50-61.8% retracement area and the 200-hour SMA, which is around 0.90. This region also neutralizes the bullish outlook, and suggests a bearish one that opens up the 0.8846 low as well, warns Fan Yang at FX Times.
AUD/USD technical levels
The AUD/USD is currently trading at 0.9111 (55-day MA), virtually unchanged off its opening during Asian trading. Technically speaking, the AUD/USD remains insulated by supports at 0.9103 (20-day SMA), a break of which will open up 0.9076 (August 13 low), and 0.9047 (July 30 low).
AUD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The AUD/USD retreated from levels near the 50-days SMA and pushed lower breaking below 0.9135 support, could be heading to 0.9085 next support level. An upside rebound remains possible so long as above 0.9000 level.”
“Watch out for support when the AUD/USD meets a rising trendline coming up from the August low of 0.8846. A break below that line first opens up the 50-61.8% retracement area and the 200-hour SMA, which is around 0.90. This region also neutralizes the bullish outlook, and suggests a bearish one that opens up the 0.8846 low as well, warns Fan Yang at FX Times.
AUD/USD technical levels
The AUD/USD is currently trading at 0.9111 (55-day MA), virtually unchanged off its opening during Asian trading. Technically speaking, the AUD/USD remains insulated by supports at 0.9103 (20-day SMA), a break of which will open up 0.9076 (August 13 low), and 0.9047 (July 30 low).