23 Jul 2013
AUD/USD upside stalled around 0.9290
FXstreet.com (Edinburgh) -The Aussie dollar is retracing today’s gains, pushing the AUD/USD to the mid 0.92s after hitting overnight highs in the vicinity of 0.9290.
AUD/USD capped by 0.9300
Bullish attempts are still struggling to overcome July peaks at 0.9300 the figure despite the increased risk-on trade and the weakness surrounding the greenback. According to Westpac Global Strategy Group, “Specs’ record short Aussie stance in futures should lend support to AUD at times this week, with potential for 0.9300/50 on any broad USD selloff. However news flow probably won’t help AUD’s cause much, with Aust CPI set to leave the door open for an Aug RBA cut and China PMI unlikely to bounce much. Buy dips under 0.9100”.
AUD/USD key levels
At the moment the pair is up 0.11% at 0.9259 facing the next hurdle at 0.9270 (high Jul.22) ahead of 0.9292 (high Jul.17) and finally 0.9301 (38.2% of 0.9792-0.8998). On the downside, a breach of 0.9255 (MA30d) would expose 0.9181 (MA21d).
AUD/USD capped by 0.9300
Bullish attempts are still struggling to overcome July peaks at 0.9300 the figure despite the increased risk-on trade and the weakness surrounding the greenback. According to Westpac Global Strategy Group, “Specs’ record short Aussie stance in futures should lend support to AUD at times this week, with potential for 0.9300/50 on any broad USD selloff. However news flow probably won’t help AUD’s cause much, with Aust CPI set to leave the door open for an Aug RBA cut and China PMI unlikely to bounce much. Buy dips under 0.9100”.
AUD/USD key levels
At the moment the pair is up 0.11% at 0.9259 facing the next hurdle at 0.9270 (high Jul.22) ahead of 0.9292 (high Jul.17) and finally 0.9301 (38.2% of 0.9792-0.8998). On the downside, a breach of 0.9255 (MA30d) would expose 0.9181 (MA21d).