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21 Jun 2013
AUD/USD creeping back towards session highs
FXstreet.com (New York) - The AUD/USD technical pair has managed to hold onto its gains Friday, creeping higher throughout the European session and attempting to pare earlier losses.
AUD/USD operating off session highs
At the time of writing, the AUD/USD is trading slightly below its earlier session highs (0.9261) at the 0.9248 level Friday, and engineering an advance of +0.56% during European trading. Despite the rise, the Mataf.net analyst team has identified the next short-term measures of resistance still ahead at 0.9288, the 0.9362, and 0.9424. Alternatively, support lies below at 0.9152, onto 0.9090, and 0.9016.
AUD/USD previous support now acts as resistance
According to Analyst Karen Jones at Commerzbank, “The AUD/USD has seen a massive acceleration on the downside towards the initial downside target of 0.9150/47, this is the 38.2% retracement of the move from 2008 to 2011. The previous major support at 0.9404/0.9388 (lows 2011 and the highs from 2009 and 2010) is now expected to act as resistance and while capped here the market will remain directly offered.”
AUD/USD operating off session highs
At the time of writing, the AUD/USD is trading slightly below its earlier session highs (0.9261) at the 0.9248 level Friday, and engineering an advance of +0.56% during European trading. Despite the rise, the Mataf.net analyst team has identified the next short-term measures of resistance still ahead at 0.9288, the 0.9362, and 0.9424. Alternatively, support lies below at 0.9152, onto 0.9090, and 0.9016.
AUD/USD previous support now acts as resistance
According to Analyst Karen Jones at Commerzbank, “The AUD/USD has seen a massive acceleration on the downside towards the initial downside target of 0.9150/47, this is the 38.2% retracement of the move from 2008 to 2011. The previous major support at 0.9404/0.9388 (lows 2011 and the highs from 2009 and 2010) is now expected to act as resistance and while capped here the market will remain directly offered.”