29 Oct 2013
AUD/USD breaks lower after RBA's Stevens headlines
FXstreet.com (Barcelona) - The AUD/USD is losing value across twilight markets as the transition between New York and Tokyo gets underway. The trigger on the AUD fall came after RBA's Stevens said currency value misaligned with fundamentals.
AUD/USD technicals point lower
Technically, according to Jim Langlands, Founder at FXCharts: "Overall momentum does appear to point to an eventual test of 0.9550 (0.9553=23.6% of 0.8891/0.9757). Under here 0.9520 (50% of 0.8848/0.9757)and eventually 0.9462 (61.8%) would attract but there is much work to be done before we see that." On the topside, Langlands sees "rallies above 0.9600 will once again meet sellers at around 0.9620/25, which contained it both today (0.9621) and also on Friday (0.9623)."
AUD/USD technicals point lower
Technically, according to Jim Langlands, Founder at FXCharts: "Overall momentum does appear to point to an eventual test of 0.9550 (0.9553=23.6% of 0.8891/0.9757). Under here 0.9520 (50% of 0.8848/0.9757)and eventually 0.9462 (61.8%) would attract but there is much work to be done before we see that." On the topside, Langlands sees "rallies above 0.9600 will once again meet sellers at around 0.9620/25, which contained it both today (0.9621) and also on Friday (0.9623)."