15 Nov 2013
AUD/USD climbs to highs near 0.9370
FXstreet.com (Edinburgh) - The Aussie dollar is challenging session highs on Friday, taking the AUD/USD to the area beyond 0.9360.
AUD/USD boosted by risk
Downbeat tone from the US docket today has intensified the risk-on trade, pushing the high-beta currencies and the rest of the risk-associated assets to higher ground. The pair remains in the upper band of today’s range, closer to yesterday’s peaks around 0.9390 ahead of next week’s key releases in China: House Price index and Foreign Direct Investment, on Monday and Tuesday, respectively. “The market continues to sit on the .9283 end of September low and we remain negatively biased and favour failure. Please note however that the Elliott wave count is implying that the market will hold here but we would consider a close below .9283 enough to negate this”, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank.
AUD/USD levels to watch
At the moment the pair is up 0.42% at 0.9362 and a surpass of 0.9388 (high Nov.14) would expose 0.9393 (high Nov.11) and then 0.9421 (low Nov.1). On the flip side, the immediate support lines up at 0.9282 (low Nov.14) followed by 0.9260 (low Nov.12) and then 0.9223 (low Sep.13).
AUD/USD boosted by risk
Downbeat tone from the US docket today has intensified the risk-on trade, pushing the high-beta currencies and the rest of the risk-associated assets to higher ground. The pair remains in the upper band of today’s range, closer to yesterday’s peaks around 0.9390 ahead of next week’s key releases in China: House Price index and Foreign Direct Investment, on Monday and Tuesday, respectively. “The market continues to sit on the .9283 end of September low and we remain negatively biased and favour failure. Please note however that the Elliott wave count is implying that the market will hold here but we would consider a close below .9283 enough to negate this”, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank.
AUD/USD levels to watch
At the moment the pair is up 0.42% at 0.9362 and a surpass of 0.9388 (high Nov.14) would expose 0.9393 (high Nov.11) and then 0.9421 (low Nov.1). On the flip side, the immediate support lines up at 0.9282 (low Nov.14) followed by 0.9260 (low Nov.12) and then 0.9223 (low Sep.13).