29 Nov 2013
AUD/USD recovery pauses
FXstreet.com (Córdoba) - The recovery of the AUD/USD from a 3-month low stalled at the 100-hour SMA during the European session as investors remain sidelined amid thin markets.
AUD/USD trends lower
Even though the AUD/USD has managed to advance for a second day Friday, it continues to print lower lows in daily basis, having bottomed out at a 3-montth low of 0.9055 during the Asian session. "Looking at the charts AUD/USD has some room to rebound toward 0.9200, but the broader fundamental and technical signals still suggest the trend in the coming weeks will still be lower, and we still expect to see sub-0.90 levels", says the TD Securities team.
AUD/USD levels to watch
At time of writing, the AUD/USD is trading at the 0.9110 zone, virtually unchanged on the day, with immediate resistances lining up at the 0.9120 zone (daily high/100-hour SMA) and 0.9150 (Nov 28 high). On the other hand, supports could be found at 0.9055 (daily low) and 0.9036 (Sep 4 low).
AUD/USD trends lower
Even though the AUD/USD has managed to advance for a second day Friday, it continues to print lower lows in daily basis, having bottomed out at a 3-montth low of 0.9055 during the Asian session. "Looking at the charts AUD/USD has some room to rebound toward 0.9200, but the broader fundamental and technical signals still suggest the trend in the coming weeks will still be lower, and we still expect to see sub-0.90 levels", says the TD Securities team.
AUD/USD levels to watch
At time of writing, the AUD/USD is trading at the 0.9110 zone, virtually unchanged on the day, with immediate resistances lining up at the 0.9120 zone (daily high/100-hour SMA) and 0.9150 (Nov 28 high). On the other hand, supports could be found at 0.9055 (daily low) and 0.9036 (Sep 4 low).