Back
26 Aug 2013
AUD/USD bottoms out at 0.9000 barrier
FXstreet.com (New York) - The AUD/USD foreign exchange rate has been in retreat all day, ever since peaking earlier today during Asian trading at 0.9072, recently bottoming out during the American session.
Following the relentless fall, the AUD/USD bottomed out at 0.9003 (session low), thereby retracing back to 0.9023 in these moments (-0.14% off its opening). Technically speaking, the AUD/USD remains fortified by supports at 0.8999, ahead of 0.8974, and 0.8932, suggests the Danske Research Team.
AUD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The AUD/USD is pushing gradually higher, attempting to retest the broken key support at 0.9070 area, which has turned into a potential resistance level, and may force price to resume the overall bearish bias, which remains favored for this week. Settling back above 0.9070 may weaken the bearish scenario.”
Following the relentless fall, the AUD/USD bottomed out at 0.9003 (session low), thereby retracing back to 0.9023 in these moments (-0.14% off its opening). Technically speaking, the AUD/USD remains fortified by supports at 0.8999, ahead of 0.8974, and 0.8932, suggests the Danske Research Team.
AUD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The AUD/USD is pushing gradually higher, attempting to retest the broken key support at 0.9070 area, which has turned into a potential resistance level, and may force price to resume the overall bearish bias, which remains favored for this week. Settling back above 0.9070 may weaken the bearish scenario.”