6 Jan 2014
AUD/USD opens week slightly higher, still below 0.9000
The Aussie opened the week with moderate gains across the board after ending Friday on a weak note suffering a decline during the American session. The AUD/USD is trading with a gain of 20 pips despite a decline in the AiG index of activity in the service sector in Australia, that dropped in December to 46.1 from 48.9.
Technical outlook for the AUD/USD
Last week the pair posted a gain of more than a hundred pips, after finding support above December lows (0.8818). The area on top of 0.8800 continues to offer support to the AUD/USD and remains as a level to watch for traders.
During Friday the Aussie reached a 3-week high at 0.9002 but it was rejected from above 0.9000 and retreated, ending the day at 0.8940. To the upside, 0.9000 continues to be the immediate resistance, followed by 0.9050 and 0.9075. Support levels might be located at 0.8910 and below at 0.8870.
Technical outlook for the AUD/USD
Last week the pair posted a gain of more than a hundred pips, after finding support above December lows (0.8818). The area on top of 0.8800 continues to offer support to the AUD/USD and remains as a level to watch for traders.
During Friday the Aussie reached a 3-week high at 0.9002 but it was rejected from above 0.9000 and retreated, ending the day at 0.8940. To the upside, 0.9000 continues to be the immediate resistance, followed by 0.9050 and 0.9075. Support levels might be located at 0.8910 and below at 0.8870.