28 Oct 2013
AUD/USD opens week mildly higher but appears poised for a test 0.9520 support
FXstreet.com (Barcelona) - The AUD/USD may have started a little higher for the week, but technicians see room down to 0.9520 before the latest correction lower is over.
AUD/USD traders to react to US data Monday
With no news due out of Australia Monday, AUD/USD traders will have to trade off of US news and data including US Industrial Production and Capacity Utilization; US Pending Home Sales; and, the US Dallas Fed Manufacturing Survey – all due out during the US session.
Technical outlook for AUD/USD
Technicians note that the AUD/USD may be in for more of a correction – possibly down to 0.9520. Shorter-term support comes in at 0.9571 – Thursday’s intraday low. Resistance for the cross comes in at Thursday’s peak at 0.9670 and is followed by Wednesday’s peak of 0.9756.
AUD/USD traders to react to US data Monday
With no news due out of Australia Monday, AUD/USD traders will have to trade off of US news and data including US Industrial Production and Capacity Utilization; US Pending Home Sales; and, the US Dallas Fed Manufacturing Survey – all due out during the US session.
Technical outlook for AUD/USD
Technicians note that the AUD/USD may be in for more of a correction – possibly down to 0.9520. Shorter-term support comes in at 0.9571 – Thursday’s intraday low. Resistance for the cross comes in at Thursday’s peak at 0.9670 and is followed by Wednesday’s peak of 0.9756.