AUD/USD capped below 0.89

FXstreet.com (Bali) - AUD/USD saw a 3-day rebound limited by 0.8950 area last Wednesday, where selling interest finally pushed the rate back down below 0.89 in Thursday's Asia - lowest for the week at 0.8875 - before consolidating below the 0.89 round number.

AUD/USD technicals

Technically speaking, the pair is likely to trade erratically during holiday trading. On the upside, resistance is noted at 0.8905/10 - swing low Dec 24 - ahead of 0.8930 - intraday level - and 0.8950/55. On the downside, bids at 0.8870/75 should be absorbed to see potential bearish continuation towards 0.8950/60 - sequence of lows Dec 20 -.