24 Jun 2013
AUD/USD establishes fresh session highs after jump
FXstreet.com (New York) - The AUD/USD foreign exchange rate exploded nearly 60 pips in recent moments, following a fresh weakness of the USD Monday during US trading.
In the United States it has been a rather tranquil day in terms of releases save for the Chicago Fed National Activity Index (May), which was reported at -0.3, compared with a figure of -0.52 previously
AUD/USD consolidation likely intraweek
According to the Technical Analyst Team at ICN.com, “The AUD/USD last week saw a massive acceleration lower towards the initial downside target of 0.9150/47 – this is the 38.2% retracement of the move from 2008 to 2011. We suspect to start this week we will see some consolidation above here.”
AUD/USD recent jump does not threaten resistance
The AUD/USD has now bulled ahead to 0.9239, securing a healthy advance of +0.34%. Technically speaking, “The AUD/USD faces a strong support 0.9143. A closing break below this would be further negative. Resistance is at 0.9313 ahead of 0.9415.” notes Research Analyst Gareth Berry at UBS.
In the United States it has been a rather tranquil day in terms of releases save for the Chicago Fed National Activity Index (May), which was reported at -0.3, compared with a figure of -0.52 previously
AUD/USD consolidation likely intraweek
According to the Technical Analyst Team at ICN.com, “The AUD/USD last week saw a massive acceleration lower towards the initial downside target of 0.9150/47 – this is the 38.2% retracement of the move from 2008 to 2011. We suspect to start this week we will see some consolidation above here.”
AUD/USD recent jump does not threaten resistance
The AUD/USD has now bulled ahead to 0.9239, securing a healthy advance of +0.34%. Technically speaking, “The AUD/USD faces a strong support 0.9143. A closing break below this would be further negative. Resistance is at 0.9313 ahead of 0.9415.” notes Research Analyst Gareth Berry at UBS.