7 Aug 2013
AUD/USD pauses at 0.90 after stops tripped
FXstreet.com (Chicago) - AUD/USD jumped back above 0.9000 round number after a short-lived retracement earlier on the day.
Amid recurrent speculations on Fed’s stimulus, market participants seemed to have a bullish sentiment towards the Aussie as it strengthened against the greenback at the closing of the US markets. To recapitulate, the Dow was down 0.31% similarly to the Nasdaq 0.32% and the S&P, back to Earth below 1,700, down 0.38%.
Technically speaking, the pair remained trading on 3-year low levels offered at 0.8998. Navigating between supports at 0.8989 (July 31st highs), 0.8979, 0.8970 (August 2nd highs) and resistances at 0.9000 (key psychologically), 0.9008 (July 30th highs), 0.90247 (intraday highs). The FXstreet trend index reported the pair as slightly bullish on the hourly chart.
Amid recurrent speculations on Fed’s stimulus, market participants seemed to have a bullish sentiment towards the Aussie as it strengthened against the greenback at the closing of the US markets. To recapitulate, the Dow was down 0.31% similarly to the Nasdaq 0.32% and the S&P, back to Earth below 1,700, down 0.38%.
Technically speaking, the pair remained trading on 3-year low levels offered at 0.8998. Navigating between supports at 0.8989 (July 31st highs), 0.8979, 0.8970 (August 2nd highs) and resistances at 0.9000 (key psychologically), 0.9008 (July 30th highs), 0.90247 (intraday highs). The FXstreet trend index reported the pair as slightly bullish on the hourly chart.