29 Oct 2013
AUD/USD emerges from 0.9515 2-week lows; consolidating above 0.9540
FXstreet.com (Chicago) - AUD/USD was able to come back after strong hit that sent the pair around 2-week lows to 0.9515 bottoms shortly after RBA’s Stevens comments.
AUD/USD Technical Levels
0.9523 (October 8th lows), 0.9479 (October 10th highs) ahead of 0.9415 (October 17th lows) and the resistances set at 0.96 (October 23rd lows), 0.9676 (October 18th highs) followed by 0.9757 (October 22nd highs). Price action reveals a short-lived knee jerk reaction to RBA’s Stevens earlier in Australia. The pair fell to 0.9515 2-week lows but pulled off a comeback consolidating above the 0.9544 front. With a primary and secondary trends diverging, the latter pointing up, 1HR charts evidence bulls hold on to bearish pressure but remain subdued around 2-week bottoms.
AUD/USD Technical Levels
0.9523 (October 8th lows), 0.9479 (October 10th highs) ahead of 0.9415 (October 17th lows) and the resistances set at 0.96 (October 23rd lows), 0.9676 (October 18th highs) followed by 0.9757 (October 22nd highs). Price action reveals a short-lived knee jerk reaction to RBA’s Stevens earlier in Australia. The pair fell to 0.9515 2-week lows but pulled off a comeback consolidating above the 0.9544 front. With a primary and secondary trends diverging, the latter pointing up, 1HR charts evidence bulls hold on to bearish pressure but remain subdued around 2-week bottoms.