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15 Aug 2013
AUD/USD stabilizing around 0.9170
FXstreet.com (Edinburgh) -The Aussie dollar is advancing for the second consecutive session on Thursday, paring weekly losses and pushing the AUD/USD to the area of 0.9170/80.
AUD/USD eyes 0.9200
The pair is recovering ground from early week pullbacks, in order to give continuation to last week’s rally from the proximities of 0.8840. Data-wise, Consumer Inflation Expectations for the month of August rose 2.3%, lower than the previous 2.6%. Sean Callow, Strategist at Wespact, commented, “AUD/USD should extend recent gains to the 0.9300/50 region into late Aug. Further out however, Australia’s very sluggish economy should keep a lid on Australian yields and AUD, though 0.8850 is likely to hold multi-week”.
AUD/USD key levels
The pair is now advancing 0.54% at 0.9171 with the next resistance at 0.9221 (high Aug.12) and then 0.9227 (low Jul.26). On the downside, a breach of 0.9073 (low Aug.13) would expose 0.9026 (high Aug.7) and finally 0.8972 (low Aug.8).
AUD/USD eyes 0.9200
The pair is recovering ground from early week pullbacks, in order to give continuation to last week’s rally from the proximities of 0.8840. Data-wise, Consumer Inflation Expectations for the month of August rose 2.3%, lower than the previous 2.6%. Sean Callow, Strategist at Wespact, commented, “AUD/USD should extend recent gains to the 0.9300/50 region into late Aug. Further out however, Australia’s very sluggish economy should keep a lid on Australian yields and AUD, though 0.8850 is likely to hold multi-week”.
AUD/USD key levels
The pair is now advancing 0.54% at 0.9171 with the next resistance at 0.9221 (high Aug.12) and then 0.9227 (low Jul.26). On the downside, a breach of 0.9073 (low Aug.13) would expose 0.9026 (high Aug.7) and finally 0.8972 (low Aug.8).