Forex: AUD/USD flat on the day, ends November higher
Forex pairs in this Article »
AUD/USD
FXstreet.com (Córdoba) - After a choppy day, the Australian dollar is set to close the day virtually unchanged against the greenback, having hit a weekly low of 1.0401 and a day's high of 1.0445 given that as most crosses, AUDUSD traded at the rhythm of market's mood.
However, on a weekly basis, AUDUSD prints a net loss of 0.3% having gradually retraced last week's gains after being rejected from a 2-month high of 1.0488 on Tuesday. AUDUSD is about to close November with gains for third month in a row.
At time of writing, AUDUSD is trading at the 1.0425 zone. From a technical view, Valeria Bednarik, chief analyst at FXstreet.com notes that bears will hold short-term control as long as price stands below the 1.0435 mark. Meanwhile, Bednarik sees supports at 1.0370, 1.0330 and 1.0300, and resistances at 1.0435, 1.0480 and 1.0510.
However, on a weekly basis, AUDUSD prints a net loss of 0.3% having gradually retraced last week's gains after being rejected from a 2-month high of 1.0488 on Tuesday. AUDUSD is about to close November with gains for third month in a row.
At time of writing, AUDUSD is trading at the 1.0425 zone. From a technical view, Valeria Bednarik, chief analyst at FXstreet.com notes that bears will hold short-term control as long as price stands below the 1.0435 mark. Meanwhile, Bednarik sees supports at 1.0370, 1.0330 and 1.0300, and resistances at 1.0435, 1.0480 and 1.0510.
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