4 Nov 2013
AUD/USD recovery pauses at 0.9500
FXstreet.com (Córdoba) - The Australian dollar managed to advance against the greenback Monday, after 2 day of losses, propelled by stronger-than-expected AUS retail sales, although the AUD/USD failed to decisively overcome the 0.9500 level.
The AUD/USD has been in correction mode over the last sessions after printing a 3-week low of 0.9420 Friday, but the recovery stalled at 0.9502 during the European session. The pair has pulled back somewhat and it is currently trading at the 0.9490 area, still 0.4% above its opening price.
AUD/USD technical levels
In terms of technical levels, if AUD/USD breaks above 0.9500, it could rise toward 0.9530 (21-day SMA) and 0.9575 (Oct 29 high). On the other hand, supports could be found at 0.944 (daily low) and 0.9420 (Nov 1 low).
The AUD/USD has been in correction mode over the last sessions after printing a 3-week low of 0.9420 Friday, but the recovery stalled at 0.9502 during the European session. The pair has pulled back somewhat and it is currently trading at the 0.9490 area, still 0.4% above its opening price.
AUD/USD technical levels
In terms of technical levels, if AUD/USD breaks above 0.9500, it could rise toward 0.9530 (21-day SMA) and 0.9575 (Oct 29 high). On the other hand, supports could be found at 0.944 (daily low) and 0.9420 (Nov 1 low).