19 Sep 2013
AUD/USD challenging 0.9500
FXstreet.com (Edinburgh) -The Aussie dollar followed the rest of the risk-associated assets on Wednesday, lifting the AUD/USD beyond the 0.9500 handle on a dovish FOMC meeting.
AUD/USD in 3-month highs
The pair is now trading in levels last seen in mid June, hovering over 0.9500/20 after Fed’s Bernanke decided to ignore the market consensus, keeping the status quo surrounding QE and triggering a sharp sell off in the greenback. “This leaves AUD/USD supported on dips near term, with the 19 June high of 0.9557 an obvious initial target then mid-0.96s into month end, with Australia’s calendar quiet”, observed Sean Callow, Analyst at Westpac.
AUD/USD levels to consider
At the moment the pair is now losing 0.16% at 0.9504 with the immediate support at 0.9431 (61.8% of 0.9792-0.8848) followed by 0.9393 (high Sep.16) and then 0.9336 (low Sep.18). On the flip side, a breakout of 0.9511 (38.2% of 1.0583-0.8848) would open the door to 0.9558 (high Jun.19) and then 0.9574 (high Jun.18).
AUD/USD in 3-month highs
The pair is now trading in levels last seen in mid June, hovering over 0.9500/20 after Fed’s Bernanke decided to ignore the market consensus, keeping the status quo surrounding QE and triggering a sharp sell off in the greenback. “This leaves AUD/USD supported on dips near term, with the 19 June high of 0.9557 an obvious initial target then mid-0.96s into month end, with Australia’s calendar quiet”, observed Sean Callow, Analyst at Westpac.
AUD/USD levels to consider
At the moment the pair is now losing 0.16% at 0.9504 with the immediate support at 0.9431 (61.8% of 0.9792-0.8848) followed by 0.9393 (high Sep.16) and then 0.9336 (low Sep.18). On the flip side, a breakout of 0.9511 (38.2% of 1.0583-0.8848) would open the door to 0.9558 (high Jun.19) and then 0.9574 (high Jun.18).