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17 Jul 2013
AUD/USD in red above 0.9200
FXstreet.com (Barcelona) -The Aussie dollar is trading on the back foot on Wednesday, driving the AUD/USD to its first pullback after two consecutive session posting gains.
AUD/USD calm waiting for Bernanke
The pair managed to bounce off multi-year lows around 0.9000 the figure during last week, on its way now to test the 0.9300/50 band bolstered by the recent weakness surrounding the greenback and the RBA minutes. Robert Henderson, Strategist at NAB, suggested, “We acknowledge the outcome of the August RBA meeting will be close but continue to expect
a 25bps cut in rates”.
AUD/USD levels to watch
At the moment the pair is down 0.40% at 0.9215 facing the next support at 0.9038 (low Jul.3) ahead of 0.9000 (psychological level) and finally 0.8871 (July 2007 high). On the upside, a break above 0.9305 (high Jul.11) would bring 0.9388/0.9404 (low 2011) and then 0.9528 (May low).
AUD/USD calm waiting for Bernanke
The pair managed to bounce off multi-year lows around 0.9000 the figure during last week, on its way now to test the 0.9300/50 band bolstered by the recent weakness surrounding the greenback and the RBA minutes. Robert Henderson, Strategist at NAB, suggested, “We acknowledge the outcome of the August RBA meeting will be close but continue to expect
a 25bps cut in rates”.
AUD/USD levels to watch
At the moment the pair is down 0.40% at 0.9215 facing the next support at 0.9038 (low Jul.3) ahead of 0.9000 (psychological level) and finally 0.8871 (July 2007 high). On the upside, a break above 0.9305 (high Jul.11) would bring 0.9388/0.9404 (low 2011) and then 0.9528 (May low).