19 Sep 2013
AUD/USD slightly downwards but still dancing close to 0.9500 area
FXstreet.com (Athens)- The AUD/USD is trading just below 0.9500 area, mainly on a corrective pullback after yesterday’s skyrocketing.
AUD/USD digested the “risk-on” news on “no-tapering”, now in a short corrective pullback move
The AUD/USD soared on the FOMC result and outperformed since the sentiment hit the risk “on” button. Since the early opening Asian trading session the AUD/USD is on a slight corrective pullback movement though, which might be well anticipated after the yesterday’s “greenback” plunging across the board. What’s more, the busy US data week continues with weekly jobless claims seen returning to 330K after the distorted 292K last week (when some states were unable to process claims due on computers upgrade).
Technical Outlook on AUD/USD
The Aussie is steadied just under 0.9500 since Sydney’s morning with the 19 June high of 0.9557 an obvious initial target then mid-0.96s into month end, with Australia’s calendar relatively quiet. The AUD/USD managed to touch yesterday a 3-month high as of 0.9527 and this leaves AUD/USD supported on dips near term, despite the fact that RBA consider the “Aussie” is still highly overvalued.
AUD/USD digested the “risk-on” news on “no-tapering”, now in a short corrective pullback move
The AUD/USD soared on the FOMC result and outperformed since the sentiment hit the risk “on” button. Since the early opening Asian trading session the AUD/USD is on a slight corrective pullback movement though, which might be well anticipated after the yesterday’s “greenback” plunging across the board. What’s more, the busy US data week continues with weekly jobless claims seen returning to 330K after the distorted 292K last week (when some states were unable to process claims due on computers upgrade).
Technical Outlook on AUD/USD
The Aussie is steadied just under 0.9500 since Sydney’s morning with the 19 June high of 0.9557 an obvious initial target then mid-0.96s into month end, with Australia’s calendar relatively quiet. The AUD/USD managed to touch yesterday a 3-month high as of 0.9527 and this leaves AUD/USD supported on dips near term, despite the fact that RBA consider the “Aussie” is still highly overvalued.