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1 Oct 2013
AUD/USD gains on US shutdown, RBA
FXstreet.com (Córdoba) - The AUD/USD has continued to push higher Tuesday as the combination of an US shutdown and a less-worried RBA propelled the pair to fresh weekly highs.
AUD/USD breaks above 0.9400
AUD/USD climbed nearly 150 pips throughout the day after the Reserve Bank of Australia kept policy unchanged and removed reference to "high" AUD in the statement. The Aussie broke above the 0.9400 mark and stretched to a peak of 0.9434 before easing slightly. At time of writing, AUD/USD is trading around 0.9425, recording a 1.3% gain on the day.
AUD/USD levels to watch
If the AUD manages to break above 0.9434, next resistances could be found at 0.9460 (Sep 23 high) and 0.9500 (psychological level). On the flip side, supports could be found at 0.9385 (200- and 10-hour SMA's crossover) and not much till 0.9287 (low/100-day SMA).
AUD/USD breaks above 0.9400
AUD/USD climbed nearly 150 pips throughout the day after the Reserve Bank of Australia kept policy unchanged and removed reference to "high" AUD in the statement. The Aussie broke above the 0.9400 mark and stretched to a peak of 0.9434 before easing slightly. At time of writing, AUD/USD is trading around 0.9425, recording a 1.3% gain on the day.
AUD/USD levels to watch
If the AUD manages to break above 0.9434, next resistances could be found at 0.9460 (Sep 23 high) and 0.9500 (psychological level). On the flip side, supports could be found at 0.9385 (200- and 10-hour SMA's crossover) and not much till 0.9287 (low/100-day SMA).