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11 Sep 2013
AUD/USD softer below 0.9300
FXstreet.com (Edinburgh) -The Aussie dollar is trading in the red territory on Wednesday, with the AUD/USD hovering over 0.9290/0.9300 after hitting fresh peaks near 0.9330 overnight.
AUD/USD propped by data
Better results from Australian Consumer Confidence gauged by Westpac, advancing 4.7% for the month of September vs. August’s 3.5% plus a solid tone from the riskier assets post-Obama decision have bolstered the upside to 0.9330, although losing momentum afterwards. According to Sean Callow, Strategy at Westpac, “With risk appetite supported by waning fear over Syria, China data momentum supportive and the Fed likely to be cautious in ‘tapering’ next week, we see scope for AUD/USD 0.9415 multi-day. Resistance today should be at 0.9340/45, the late June highs
AUD/USD levels to watch
As of writing the pair is down 0.28% at 0.9285 facing the next support at 0.9216 (low Sep.10) ahead of 0.9167 (low Sep.9). On the upside, the immediate resistance aligns at 0.9320 (high Jul.24) followed by 0.9340 (high Jun.27) and then 0.9345 (high Jun.26).
AUD/USD propped by data
Better results from Australian Consumer Confidence gauged by Westpac, advancing 4.7% for the month of September vs. August’s 3.5% plus a solid tone from the riskier assets post-Obama decision have bolstered the upside to 0.9330, although losing momentum afterwards. According to Sean Callow, Strategy at Westpac, “With risk appetite supported by waning fear over Syria, China data momentum supportive and the Fed likely to be cautious in ‘tapering’ next week, we see scope for AUD/USD 0.9415 multi-day. Resistance today should be at 0.9340/45, the late June highs
AUD/USD levels to watch
As of writing the pair is down 0.28% at 0.9285 facing the next support at 0.9216 (low Sep.10) ahead of 0.9167 (low Sep.9). On the upside, the immediate resistance aligns at 0.9320 (high Jul.24) followed by 0.9340 (high Jun.27) and then 0.9345 (high Jun.26).