29 Jul 2013
AUD/USD recovers the 0.9200 region
FXstreet.com (New York) - The AUD/USD foreign exchange rate recovered out of what was otherwise a sticky wicket during US trading, regaining the 0.9200 level Monday.
At the time of writing, the AUD/USD is now settling at 0.9206, and despite the recent recovery off its lows (0.9186) is still a staunch decline of -0.47% during US trading. Technically speaking, the pair’s decline will retest supports at 0.9192, ahead of 0.9155, calculates the Mataf.net analyst team.
AUD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The AUD/USD remains below the key overhead resistance area among 0.9300-0.9350-0.9385 levels, and accordingly the overall bearish wave is still intact, as rallies are still limited below 0.9385. Only a break above 0.8385 will suggest a bullish breakout and a potential rebound and rally. Therefore, we remain bearish for this week as well.”
At the time of writing, the AUD/USD is now settling at 0.9206, and despite the recent recovery off its lows (0.9186) is still a staunch decline of -0.47% during US trading. Technically speaking, the pair’s decline will retest supports at 0.9192, ahead of 0.9155, calculates the Mataf.net analyst team.
AUD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The AUD/USD remains below the key overhead resistance area among 0.9300-0.9350-0.9385 levels, and accordingly the overall bearish wave is still intact, as rallies are still limited below 0.9385. Only a break above 0.8385 will suggest a bullish breakout and a potential rebound and rally. Therefore, we remain bearish for this week as well.”