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11 Aug 2014
AUD/USD unable to recover
FXStreet (Córdoba) - The AUD/USD is consolidating in a tight range at the beginning of the American session after the latest pullback was contained by the 0.9260 area.
The AUD/USD managed to find buyers after hitting a daily low of 0.9260 and bounced toward 0.9270 but failed to sustain momentum. As most crosses in the FX market, the pair has been confined to a narrow range Monday in the absence of economic data.
A positive opening in Wall Street did little to help the Aussie, which continues to trade near lows, recording a 0.15% loss on the day.
AUD/USD technical levels
In terms of technical levels, a clear break below 0.9260 might pave the way toward 0.9238 (Aug 8 low) and then 0.9228 (Jun 3 low). On the other hand, resistances could be found at 0.9285 (Aug 11 & 8 highs), 0.9300 (psychological level) and 0.9310 (10-day SMA).
The AUD/USD managed to find buyers after hitting a daily low of 0.9260 and bounced toward 0.9270 but failed to sustain momentum. As most crosses in the FX market, the pair has been confined to a narrow range Monday in the absence of economic data.
A positive opening in Wall Street did little to help the Aussie, which continues to trade near lows, recording a 0.15% loss on the day.
AUD/USD technical levels
In terms of technical levels, a clear break below 0.9260 might pave the way toward 0.9238 (Aug 8 low) and then 0.9228 (Jun 3 low). On the other hand, resistances could be found at 0.9285 (Aug 11 & 8 highs), 0.9300 (psychological level) and 0.9310 (10-day SMA).