9 Aug 2013
AUD/USD soft above 0.91 following RBA and weak China CPI
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last trading at 0.9127 almost fresh session highs, off recent session lows around 0.9087, following weaker than expected China CPI figures.
AUD/USD undecided around 0.9120
After a short period with intraday volatility around the 0.9080-0.9115 levels, following both China CPI and RBA statement, with the central bank cutting GDP forecast for 2013 from 2.5% released in May to current 2.25%, the Aussie seems to have found some bids, though still below NY session/weekly highs around the 0.9140 level.
AUD/USD key technical levels
Immediate resistance to the upside for AUD/USD shows at NY session/weekly highs 0.9140, followed by July 22 lows at 0.9167, while closest support to the downside lies at Tuesday's highs 0.9006, followed by recent session/weekly highs at 0.9037.July 30 NY session highs 0.9093, followed by July 15 lows at 0.9034.
AUD/USD undecided around 0.9120
After a short period with intraday volatility around the 0.9080-0.9115 levels, following both China CPI and RBA statement, with the central bank cutting GDP forecast for 2013 from 2.5% released in May to current 2.25%, the Aussie seems to have found some bids, though still below NY session/weekly highs around the 0.9140 level.
AUD/USD key technical levels
Immediate resistance to the upside for AUD/USD shows at NY session/weekly highs 0.9140, followed by July 22 lows at 0.9167, while closest support to the downside lies at Tuesday's highs 0.9006, followed by recent session/weekly highs at 0.9037.July 30 NY session highs 0.9093, followed by July 15 lows at 0.9034.