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28 Aug 2013
AUD/USD leaves some bears trapped below 0.8930
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last trading at 0.8957 off recent fresh 3-week lows at 0.8923 printed on the back of stop loss triggered on the Tokyo open, ahead of Australia construction work done data due at 01:30 GMT.
AUD/USD recoveries up to 0.9050 possible
“The AUD/USD trades below 0.9000 with the hourly chart showing a short term upward tone, as price stands above 20 SMA and indicators cross their midlines to the upside,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “The strong advance in gold is giving the pair some support, although Aussie self weakness prevents the pair from advancing further. In the 4 hours chart price develops below 20 SMA currently around 0.9010, while indicators hold in negative territory. Recoveries up to 0.9050/80 area are possible, although sellers are expected to show up on such advances.”
AUD/USD key technical levels
Bednarik finds support levels at: 0.8955, 0.8920 and 0.8870, while resistance levels at: 0.9010, 0.9050 and 0.9080.
AUD/USD recoveries up to 0.9050 possible
“The AUD/USD trades below 0.9000 with the hourly chart showing a short term upward tone, as price stands above 20 SMA and indicators cross their midlines to the upside,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “The strong advance in gold is giving the pair some support, although Aussie self weakness prevents the pair from advancing further. In the 4 hours chart price develops below 20 SMA currently around 0.9010, while indicators hold in negative territory. Recoveries up to 0.9050/80 area are possible, although sellers are expected to show up on such advances.”
AUD/USD key technical levels
Bednarik finds support levels at: 0.8955, 0.8920 and 0.8870, while resistance levels at: 0.9010, 0.9050 and 0.9080.