24 Jul 2013
AUD/USD trading at 0.9300 ahead of Australian CPI
FXstreet.com (New York) - The AUD/USD foreign exchange rate steadily rose to retest the 0.9300 level in these moments, ahead of the highly anticipated Australian CPI at 1:30 GMT.
AUD/USD strategic bias
According Valeria Bednarik, an analyst at FXstreet.com, “The AUD continues benefiting from USD weakness, leading to a retest of the 0.9300 area. The pair has faced sellers several times on current levels over the past few days, but currently stands nearby with a strong upward momentum in the hourly chart and a general dollar weakness that favors a break higher: once above 0.9310 the pair may continue advancing towards 0.9380 area, facing strong static midterm resistance.”
AUD/USD technical bias
At the time of writing, the AUD/USD is trading positively, up a marginal +0.01%, now operating at 0.9299. In terms of the technical levels, the AUD/USD 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).
AUD/USD strategic bias
According Valeria Bednarik, an analyst at FXstreet.com, “The AUD continues benefiting from USD weakness, leading to a retest of the 0.9300 area. The pair has faced sellers several times on current levels over the past few days, but currently stands nearby with a strong upward momentum in the hourly chart and a general dollar weakness that favors a break higher: once above 0.9310 the pair may continue advancing towards 0.9380 area, facing strong static midterm resistance.”
AUD/USD technical bias
At the time of writing, the AUD/USD is trading positively, up a marginal +0.01%, now operating at 0.9299. In terms of the technical levels, the AUD/USD 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).