16 Oct 2013
AUD/USD consolidates below 0.9550
FXstreet.com (Córdoba) - The AUD/USD has spent the last sessions consolidating below a 4-month high as the US debt impasse continues to drive market sentiment, keeping investors sidelined.
Long hours of negotiations and no deal accomplished Tuesday in Washington; however there is optimism US politicians would strike a last-minute deal to prevent a default. Against this backdrop, the AUD/USD lacked momentum to break above its 4-month high of 0.9547 scored yesterday and was confined to a slim range contained by 0.9498 on the downside.
AUD/USD technical leveles
At time of writing, AUD/USD is trading at the 0.9535 zone, still 0.1% above its opening price, with immediate resistances lining up at 0.9547 (Oct 15 high), 0.9572 (Jun 18 high) and 0.9600 (psychological level). On the flip side, immediate supports could be found at 0.9498 (daily low), 0.9475 (Oct 15 low) and 0.9460 (10-day SMA).
Long hours of negotiations and no deal accomplished Tuesday in Washington; however there is optimism US politicians would strike a last-minute deal to prevent a default. Against this backdrop, the AUD/USD lacked momentum to break above its 4-month high of 0.9547 scored yesterday and was confined to a slim range contained by 0.9498 on the downside.
AUD/USD technical leveles
At time of writing, AUD/USD is trading at the 0.9535 zone, still 0.1% above its opening price, with immediate resistances lining up at 0.9547 (Oct 15 high), 0.9572 (Jun 18 high) and 0.9600 (psychological level). On the flip side, immediate supports could be found at 0.9498 (daily low), 0.9475 (Oct 15 low) and 0.9460 (10-day SMA).