Back
12 Jun 2013
AUD/USD establishing fresh highs at 0.9557/66
FXstreet.com (New York) - The AUD/USD technical pair is sailing to session highs during European trading Wednesday, operating in the heights of 0.9557/66 in these moments.
AUD/USD positivity exists in short-term
According to the Technical Analyst Team at ICN.com, “We expected negativity on Tuesday after the AUD/USD confirmed its stable position with 4-hour closing below 0.9360. However, in examining the daily candlestick, we found the AUD/USD has returned to above that level, which represents 261% Fibonacci. The pair is also above Linear Regression Indicators while the stochastic demonstrates a positive bias.”
AUD/USD recovery capped by recent high at 0.9792
“The AUD/USD has eroded its major area of support at 0.9404/0.9388, however this is an inter-year pivot – the lows we saw in 2011 and the highs from 2009 and 2010. It is key and we suspect that it will hold the initial test and are alert to the idea of a corrective rebound. Intraday rallies are likely to struggle 0.9600 and a negative bias will remain while capped by 0.9792, the recent high.” warns Karen Jones, an analyst at Commerzbank.
Presently, the AUD/USD is advancing at a rate of +1.40% above its opening Wednesday. Following an earlier thrust above resistance at 0.9539, the Mataf.net analyst team points to additional measures of correction at 0.9604, then 0.9710. On the decline, supports lie far below at 0.9368, ahead of 0.9262.
AUD/USD positivity exists in short-term
According to the Technical Analyst Team at ICN.com, “We expected negativity on Tuesday after the AUD/USD confirmed its stable position with 4-hour closing below 0.9360. However, in examining the daily candlestick, we found the AUD/USD has returned to above that level, which represents 261% Fibonacci. The pair is also above Linear Regression Indicators while the stochastic demonstrates a positive bias.”
AUD/USD recovery capped by recent high at 0.9792
“The AUD/USD has eroded its major area of support at 0.9404/0.9388, however this is an inter-year pivot – the lows we saw in 2011 and the highs from 2009 and 2010. It is key and we suspect that it will hold the initial test and are alert to the idea of a corrective rebound. Intraday rallies are likely to struggle 0.9600 and a negative bias will remain while capped by 0.9792, the recent high.” warns Karen Jones, an analyst at Commerzbank.
Presently, the AUD/USD is advancing at a rate of +1.40% above its opening Wednesday. Following an earlier thrust above resistance at 0.9539, the Mataf.net analyst team points to additional measures of correction at 0.9604, then 0.9710. On the decline, supports lie far below at 0.9368, ahead of 0.9262.