25 Oct 2013
US Dollar enjoys bids in Asia
FXstreet.com (Barcelona) - The US Dollar is enjoying a decent bullish run since the Tokyo open, reversing early marginal losses against G10 currencies, to currently be topping Asia's FX board.
Against the AUD and NZD, the US Dollar saw a significant bullish move, and in the latter, it confirmed the break of a major static support at 0.8330 to currently be testing bids at 0.83, session lows. Meanwhile, AUD/USD was dragged lower towards 0.9580, an area which seems to be providing dynamic support as a thick kumo cloud in the H4 chart intersects with price.
Both antipodean currencies look quite fragile at the moment, with the latest sharp rotation suggesting further technical damage might be looming near. According to Valeria Bednarik, Chief Analyst at FXstreet.com, the Australian weakness might return on Friday, noting "only a clear recovery above 0.9680 strong resistance should anticipate gains."
Against the AUD and NZD, the US Dollar saw a significant bullish move, and in the latter, it confirmed the break of a major static support at 0.8330 to currently be testing bids at 0.83, session lows. Meanwhile, AUD/USD was dragged lower towards 0.9580, an area which seems to be providing dynamic support as a thick kumo cloud in the H4 chart intersects with price.
Both antipodean currencies look quite fragile at the moment, with the latest sharp rotation suggesting further technical damage might be looming near. According to Valeria Bednarik, Chief Analyst at FXstreet.com, the Australian weakness might return on Friday, noting "only a clear recovery above 0.9680 strong resistance should anticipate gains."