11 Jul 2013
AUD/USD plunges to session lows
FXstreet.com (New York) - The AUD/USD technical pair is engulfed in negativity Thursday, unable to slow the unrelenting selling pressure that initiated earlier today during European trading.
Technically speaking, the AUD/USD is trading at 0.9144, notching fresh lows en route to a loss of -0.21% thus far during US trading. Supportive means can be found at 0.9135, ahead of 0.9075, and 0.9040.
AUD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The AUD/USD fluctuated heavily, as it dipped towards our second target at 0.9075, but rebounded from 0.9090 yesterday, before heading sharply higher again and break above 0.9250 key resistance level. Holding above 0.9250 favors further upside now probably towards the 0.9340 horizontal resistance, which also meets the descending resistance near the same levels. Thus, the bullish scenario is favored over an intraday basis.”
Technically speaking, the AUD/USD is trading at 0.9144, notching fresh lows en route to a loss of -0.21% thus far during US trading. Supportive means can be found at 0.9135, ahead of 0.9075, and 0.9040.
AUD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The AUD/USD fluctuated heavily, as it dipped towards our second target at 0.9075, but rebounded from 0.9090 yesterday, before heading sharply higher again and break above 0.9250 key resistance level. Holding above 0.9250 favors further upside now probably towards the 0.9340 horizontal resistance, which also meets the descending resistance near the same levels. Thus, the bullish scenario is favored over an intraday basis.”