25 Apr 2014
AUD/USD capped by 0.9280
FXStreet (Edinburgh) - The Aussie dollar is trading on a better mood on Friday, with the AUD/USD now being rejected from session highs near 0.9280.
AUD/USD alive despite the holiday
Thin trade prevails in Australian markets today due to the ANZAC Day, although FX markets keep on the trade. Spot had a promising Asian session, climbing from the mid-0.9200s to levels just beyond 0.9280 amidst empty docket and no news from China. The bull run, however, stalled around intraday tops, now back to 0.9275/70. “As noted previously, the 0.9245/50 area may remain pivotal in the near term and any violation or rejection may dictate future appetite towards the pair. In the interim, investors may continue to fade near term upticks in the current environment. To reiterate, less appetite towards AUD-NZD upside in the near term may also limit the AUD-USD’s potential to creep higher”, noted Emmanuel Ng, FX Strategist at OCBC Bank.
AUD/USD key levels
As of writing, the pair is up 0.12% at 0.9275 with the next resistance at 0.9425 (high Apr.15) ahead of 0.9426 (high Apr.14) and then 0.9461 (high Apr.10). On the flip side, a breakdown of 0.9254 (low Apr.7) would aim for 0.9225 (low Apr.4) and then 0.9155 (low Mar.26).
AUD/USD alive despite the holiday
Thin trade prevails in Australian markets today due to the ANZAC Day, although FX markets keep on the trade. Spot had a promising Asian session, climbing from the mid-0.9200s to levels just beyond 0.9280 amidst empty docket and no news from China. The bull run, however, stalled around intraday tops, now back to 0.9275/70. “As noted previously, the 0.9245/50 area may remain pivotal in the near term and any violation or rejection may dictate future appetite towards the pair. In the interim, investors may continue to fade near term upticks in the current environment. To reiterate, less appetite towards AUD-NZD upside in the near term may also limit the AUD-USD’s potential to creep higher”, noted Emmanuel Ng, FX Strategist at OCBC Bank.
AUD/USD key levels
As of writing, the pair is up 0.12% at 0.9275 with the next resistance at 0.9425 (high Apr.15) ahead of 0.9426 (high Apr.14) and then 0.9461 (high Apr.10). On the flip side, a breakdown of 0.9254 (low Apr.7) would aim for 0.9225 (low Apr.4) and then 0.9155 (low Mar.26).