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17 Jun 2013
AUD/USD trading below 0.9580
FXstreet.com (Barcelona) - Less than half hour away from the Tokyo open, and with only New Motor Vehicle Sales (YoY) in Australia as main risk event for Aussie at 01:30 GMT, the AUD/USD is last at 0.9571, unchanged from previous weekly close Friday.
Back above 1.00 soon – Sean Lee
As FXWW founder Sean Lee notes, “US yields eased lower again on Friday after a big fall on Thursday, and precious metal prices remain very steady,” which “are all good signs for the bullish AUD/USD case,” the analyst said. Sean also points out that “most of the big flows now having dried up,” concluding: “I think we will see prices back above 1.00 pretty soon.”
Key technical levels
Immediate resistance to the upside for AUD/USD shows at recent session highs at 0.9580, followed by June 04 lows at 0.9608, and Friday's highs at 0.9656/67. To the downside, closest support lies at recent session lows at 0.9551, followed by June 05 lows at 0.9511, and June 10 highs at 0.9480.
Back above 1.00 soon – Sean Lee
As FXWW founder Sean Lee notes, “US yields eased lower again on Friday after a big fall on Thursday, and precious metal prices remain very steady,” which “are all good signs for the bullish AUD/USD case,” the analyst said. Sean also points out that “most of the big flows now having dried up,” concluding: “I think we will see prices back above 1.00 pretty soon.”
Key technical levels
Immediate resistance to the upside for AUD/USD shows at recent session highs at 0.9580, followed by June 04 lows at 0.9608, and Friday's highs at 0.9656/67. To the downside, closest support lies at recent session lows at 0.9551, followed by June 05 lows at 0.9511, and June 10 highs at 0.9480.