26 May 2014
AUD/USD limited by 0.9250
FXStreet (Edinburgh) - A bout of risk appetite boosted the Australian dollar and send the AUD/USD to print fresh intraday highs just below the 0.9250 level.
AUD/USD capped by 0.9250
The quick upside run out of legs in the mid-0.92s however, with spot now giving away some pips although keeping the upper band of the range. Thin trade continues to dominate markets today following the inactivity in the US and the UK. It seems the pair is poised to follow the risk trends this week, as the docket in Oz is almost non-existent, with only New Home Sales tracked by HIA due on Thursday. “The Australian dollar tested the $0.9200 support… The subsequent bounce has not been very enthusiastic. On a break, the triggering of stop loss sales could carry the Aussie down another half cent in short order and through the 200-day moving average (~$0.9170). It would lend credence to the idea that an important high is in place”, suggested analysts at BBH.
AUD/USD key levels
The pair is now advancing 0.16% at 0.9245 with the next resistance at 0.9274 (high May 22) followed by 0.9280 (50-d MA) and finally 0.9336 (high May 20). On the flip side, a breakdown of 0.9208 (low May 21) would open the door to 0.9172 (200-d MA) and then 0.9155 (low Mar.26).
AUD/USD capped by 0.9250
The quick upside run out of legs in the mid-0.92s however, with spot now giving away some pips although keeping the upper band of the range. Thin trade continues to dominate markets today following the inactivity in the US and the UK. It seems the pair is poised to follow the risk trends this week, as the docket in Oz is almost non-existent, with only New Home Sales tracked by HIA due on Thursday. “The Australian dollar tested the $0.9200 support… The subsequent bounce has not been very enthusiastic. On a break, the triggering of stop loss sales could carry the Aussie down another half cent in short order and through the 200-day moving average (~$0.9170). It would lend credence to the idea that an important high is in place”, suggested analysts at BBH.
AUD/USD key levels
The pair is now advancing 0.16% at 0.9245 with the next resistance at 0.9274 (high May 22) followed by 0.9280 (50-d MA) and finally 0.9336 (high May 20). On the flip side, a breakdown of 0.9208 (low May 21) would open the door to 0.9172 (200-d MA) and then 0.9155 (low Mar.26).