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10 Sep 2013
AUD/USD pulverizes 0.9250 zone
FXstreet.com (Chicago) - AUD/USD continues soaring to target 0.93 zone after formidable climb breaking 0.9233 resistance. Stops had been triggered at 0.9250.
Price action reveals heavy buying as bulls outweigh bears for a 0.42% advance within minutes. The National Australia Bank’s business confidence for August increased to 6 from prior -3 results, fueling bullish momentum higher. The NAB business conditions were -6 vs. past -7. The pair now trades at 0.9267 between supports at 0.9233 (August 19th highs), 0.9188 (September 5th highs) ahead of 0.9133 (July 24th lows) and resistances at 0.9292 (July 25th highs), 0.9344 (June 26th highs) followed by 0.9382 (June 3rd lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and remains above the EMA20.
According to Sean Lee Founder at FXWW “more sellorders reported from local banks starting at 0.9270”.
Price action reveals heavy buying as bulls outweigh bears for a 0.42% advance within minutes. The National Australia Bank’s business confidence for August increased to 6 from prior -3 results, fueling bullish momentum higher. The NAB business conditions were -6 vs. past -7. The pair now trades at 0.9267 between supports at 0.9233 (August 19th highs), 0.9188 (September 5th highs) ahead of 0.9133 (July 24th lows) and resistances at 0.9292 (July 25th highs), 0.9344 (June 26th highs) followed by 0.9382 (June 3rd lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and remains above the EMA20.
According to Sean Lee Founder at FXWW “more sellorders reported from local banks starting at 0.9270”.