Filed Under:
Forex pairs in this Article » AUD/USD
FXstreet.com (Barcelona) - AUDUSD is currently printing fresh session highs at 1.0385, slightly below 38.2% Fibo retrace of yesterday's fall from weekly highs at 1.0460 to recent session lows at 1.0348, printed by early Tokio trade. Positive comments from FED member Williams by around same time on possible more QE for 2013 helped the Aussie resume the bounce on broad USD selling.

"AUDUSD Solid bids near 1.0350 stalling bearish momentum," wrote Sean Lee from FXWW moments before as well the bounce came in. "No definitive reports yet of who is buying, but there is plenty of AUD changing hands around 1.0350," the analyst noted. The pair is still about 10 pips lower for the week, supported on latest up trend line coming from Aug lows around 1.0150 and 200 SMA in the 4H chart.

Immediate support to the downside for AUDUSD lies at recent session lows as 38.2% Fibo retrace of latest daily up leg 1.0145/1.0480 and Nov 09 lows, followed by 200 day SMA/50% Fib of same up leg/Sept 11 lows at 1.0320/10, and Oct 04/05 highs/61.8% Fib of same mentioned move at 1.0275. To the upside, closest resistance shows at Nov 08 lows 1.0385, followed by Tuesday's lows at 1.0395-1.0400/50% Fib of same mentioned yesterday's down leg, and yesterday's high at 1.0460.
comments powered by Disqus