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4 Oct 2013
AUD/USD testing 2-week lows
FXstreet.com (Edinburgh) -The Aussie dollar keeps pushing higher on Friday, lifting the AUD/USD to challenge 2-week highs in the vicinity of 0.9450.
AUD/USD firmer despite risk-off trade
The pair advanced in 4 out of the last 5 weeks, bouncing off multi-year troughs in the mid 0.88s, principally by the marked weakness surrounding the greenback. According to Westpac Global Strategy Group, “The RBA statement helps AUD on crosses, with another rate cut now unlikely before year end. But AUD/USD seems pricey near 0.94 given the US political dangers and weaker commodity prices”.
AUD/USD levels to watch
As of writing the pair is advancing 0.53% at 0.9443 and the next resistance at 0.9459 (high Sep.20). On the downside, a breach of 0.9367 (low Oct.3) would expose 0.9336 (MA21d) and then 0.9334 (low Oct.2).
AUD/USD firmer despite risk-off trade
The pair advanced in 4 out of the last 5 weeks, bouncing off multi-year troughs in the mid 0.88s, principally by the marked weakness surrounding the greenback. According to Westpac Global Strategy Group, “The RBA statement helps AUD on crosses, with another rate cut now unlikely before year end. But AUD/USD seems pricey near 0.94 given the US political dangers and weaker commodity prices”.
AUD/USD levels to watch
As of writing the pair is advancing 0.53% at 0.9443 and the next resistance at 0.9459 (high Sep.20). On the downside, a breach of 0.9367 (low Oct.3) would expose 0.9336 (MA21d) and then 0.9334 (low Oct.2).