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18 Sep 2013
AUDUSD in 3-month highs
FXstreet.com (Edinburgh) -The Aussie dollar is extending its weekly upside on Wednesday, lifting the AUD/USD to the area of 0.9360/70, levels last seen in late June.
AUD/USD propped up by risk, RBA
The AUD found support early in the week on a neutral-to-dovish tone from the RBA minutes, matching expectations. The prevailing risk appetite also collaborated in the pair’s momentum, now advancing for the third consecutive week. Robert Rennie, Analyst at Westpac, observed that “Our best guess on the near term future is that AUD is still destined for a test of 0.95. Certainly, if we are correct on the FOMC outcome, we should indeed see that level tested. However, beyond that, we still look for sell opportunities”.
AUD/USD relevant levels
The pair is now up 0.01% at 0.9358 facing the next hurdle at 0.9367 (high Sep.17) followed by 0.9393 (high Sep.16) and finally 0.9431 (61.8% of 0.9792-0.8848). On the flip side, a breakdown of 0.9320 (cloud top) would open the door to 0.9285 (low Sep.17) and then 0.9271 (high Sep.13).
AUD/USD propped up by risk, RBA
The AUD found support early in the week on a neutral-to-dovish tone from the RBA minutes, matching expectations. The prevailing risk appetite also collaborated in the pair’s momentum, now advancing for the third consecutive week. Robert Rennie, Analyst at Westpac, observed that “Our best guess on the near term future is that AUD is still destined for a test of 0.95. Certainly, if we are correct on the FOMC outcome, we should indeed see that level tested. However, beyond that, we still look for sell opportunities”.
AUD/USD relevant levels
The pair is now up 0.01% at 0.9358 facing the next hurdle at 0.9367 (high Sep.17) followed by 0.9393 (high Sep.16) and finally 0.9431 (61.8% of 0.9792-0.8848). On the flip side, a breakdown of 0.9320 (cloud top) would open the door to 0.9285 (low Sep.17) and then 0.9271 (high Sep.13).