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1 Oct 2013
AUD/USD faltering around 0.9400
FXstreet.com (Edinburgh) -The Aussie dollar is now struggling to surpass the 0.9400 handle on Tuesday, after a neutral RBA lifted the AUD/USD to fresh highs from 0.9325/30.
AUD/USD bolstered by data, RBA
The AUD found extra oxygen after retail sales in Australia surpassed expectations during August, expanding at a monthly pace of 0.4%, up from July’s 0.1% gain. The RBA statement came afterwards, confirming the better sentiment around the currency and leaving the status quo intact, with the refi rate at 2.5%. Karen Jones, Head of FICC Technical Analysis at Commerzbank argued the pair “is holding at its 38.2% retracement support at .9383. The downside is limited short term and it is trying to base, and should re-test the 38.2% retracement at .9510”.
AUD/USD levels to watch
As of writing the pair is advancing 0.82% at 0.9391 with the next hurdle at 0.9403 (high Sep.26). On the flip side, a break down of 0.9293 (MA100d) would expose 0.9291 (MA21d) and then 0.9280 (low Sep.30).
AUD/USD bolstered by data, RBA
The AUD found extra oxygen after retail sales in Australia surpassed expectations during August, expanding at a monthly pace of 0.4%, up from July’s 0.1% gain. The RBA statement came afterwards, confirming the better sentiment around the currency and leaving the status quo intact, with the refi rate at 2.5%. Karen Jones, Head of FICC Technical Analysis at Commerzbank argued the pair “is holding at its 38.2% retracement support at .9383. The downside is limited short term and it is trying to base, and should re-test the 38.2% retracement at .9510”.
AUD/USD levels to watch
As of writing the pair is advancing 0.82% at 0.9391 with the next hurdle at 0.9403 (high Sep.26). On the flip side, a break down of 0.9293 (MA100d) would expose 0.9291 (MA21d) and then 0.9280 (low Sep.30).