3 Jul 2013
AUD/USD held below 0.9100 level
FXstreet.com (New York) - The AUD/USD technical cross peaked earlier at the 131.15 level (intraday high), only to recently give back a portion of its gains during US trading.
AUD/USD trading near support
The AUD/USD is still operating negative at a sizable -0.60% in these moments, having settled at 0.9096 in these moments, stubbornly refusing to overtake the 0.9100 level. The Mataf.net analyst team identified short-term supports at 0.9100, then 0.9060, and finally 0.8989.
AUD/USD time to lighten shorts?
According to Karen Jones, an analyst at Commerzbank, “The AUD/USD reached and slightly exceeded our 0.9147 downside target which consists of the 38.2% Fibonacci retracement of the 2008-11 long-term uptrend. It has yet to register a close below here and coupled with the divergence of the daily RSI, we would either tighten up stops or lighten shorts at this stage.”
AUD/USD trading near support
The AUD/USD is still operating negative at a sizable -0.60% in these moments, having settled at 0.9096 in these moments, stubbornly refusing to overtake the 0.9100 level. The Mataf.net analyst team identified short-term supports at 0.9100, then 0.9060, and finally 0.8989.
AUD/USD time to lighten shorts?
According to Karen Jones, an analyst at Commerzbank, “The AUD/USD reached and slightly exceeded our 0.9147 downside target which consists of the 38.2% Fibonacci retracement of the 2008-11 long-term uptrend. It has yet to register a close below here and coupled with the divergence of the daily RSI, we would either tighten up stops or lighten shorts at this stage.”