24 Jul 2013
AUD/USD testing the 0.9300 level
FXstreet.com (New York) - The AUD/USD foreign exchange rate is testing the 0.9300 level Wednesday morning during Asian trading, strengthening over the course of yesterdays session, which saw the USD in general retreat.
AUD/USD event risk
The AUD/USDs fortunes will likely be dictated by a tranche of economic data out of Australia today, highlighted by Q2 CPI at 01:30 GMT, which presently holds a consensus of 2.5%.
AUD/USD strategic bias
In these moments, the AUD/USD is now operating at 0.9301 Wednesday, unable to effectively mount any gains thus far after yesterday’s steadfast performance. Technically speaking, the pair will face calculated resistance at 0.9295 (June 25 high), onto 0.9335 (June 27 high), onto 0.9342 (June 26 high), and 0.8018 (June 18 high).
According to the Technical Analyst Team at ICN.com, “The AUD/USD is nestled near resistance at the 0.9300 level. Overall, we maintain our sideways bias for the pair, unless price decisively breaks above 0.9400 level.”
AUD/USD event risk
The AUD/USDs fortunes will likely be dictated by a tranche of economic data out of Australia today, highlighted by Q2 CPI at 01:30 GMT, which presently holds a consensus of 2.5%.
AUD/USD strategic bias
In these moments, the AUD/USD is now operating at 0.9301 Wednesday, unable to effectively mount any gains thus far after yesterday’s steadfast performance. Technically speaking, the pair will face calculated resistance at 0.9295 (June 25 high), onto 0.9335 (June 27 high), onto 0.9342 (June 26 high), and 0.8018 (June 18 high).
According to the Technical Analyst Team at ICN.com, “The AUD/USD is nestled near resistance at the 0.9300 level. Overall, we maintain our sideways bias for the pair, unless price decisively breaks above 0.9400 level.”