16 Jul 2013
AUD/USD targets 0.9188, dip buyers on the rise
FXstreet.com (Barcelona) - Following the less-dovish-than-expected RBA minutes, the AUD/USD seem to have reaffirmed its bullish trend intraday, as market pricing over a rate cut in August lowered to 53% from 68% pre-RBA release.
The key resistance for the AUD/USD can be found at 0.9188 -July 11/12 double top, 61.8 fib from 0.9304-0.8997 run-. A break above exposes a run towards 0.9250 -July 1 swing high - ahead of 0.93 - July 11 high -. On the downside, first attempt to reinstate long positions should be seen at 0.9120 - July 15 intraday high - down to 0.91 - origins of the RBA-led spike -.
The key resistance for the AUD/USD can be found at 0.9188 -July 11/12 double top, 61.8 fib from 0.9304-0.8997 run-. A break above exposes a run towards 0.9250 -July 1 swing high - ahead of 0.93 - July 11 high -. On the downside, first attempt to reinstate long positions should be seen at 0.9120 - July 15 intraday high - down to 0.91 - origins of the RBA-led spike -.