Back
12 Feb 2014
AUD/USD stalls after hitting 1-month high
FXStreet (Córdoba) - The AUD/USD advanced for second day in a row and reached a 1-month peak of 0.9066 underpinned by strong China's stronger-than-expected trade data and positive market sentiment.
However, the recovery of the AUD/USD stalled ahead of its 2014 high of 0.9085 scored Jan 13 and settled in a slim range where it has spent the last hours. At time of writing, the AUD/USD is trading at the 0.9055 area, recording a 0.2% gain Wednesday.
AUD/USD technical outlook
"Australian Dollar is forming ascending structure towards level of 0.9077", said Igor Sayadov, analyst at RoboForex. "Later, in our opinion, instrument may form new correction towards level of 0.8885 and then start another ascending structure to reach level of 0.9105".
However, the recovery of the AUD/USD stalled ahead of its 2014 high of 0.9085 scored Jan 13 and settled in a slim range where it has spent the last hours. At time of writing, the AUD/USD is trading at the 0.9055 area, recording a 0.2% gain Wednesday.
AUD/USD technical outlook
"Australian Dollar is forming ascending structure towards level of 0.9077", said Igor Sayadov, analyst at RoboForex. "Later, in our opinion, instrument may form new correction towards level of 0.8885 and then start another ascending structure to reach level of 0.9105".