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17 Oct 2013
AUD/USD consolidates 0.9030 front; 22-week highs
FXstreet.com (Chicago) - AUD/USD soared on weaker than expected US data and improved results in Australia with business confidence index results not seen in two years.
Some win, others lose
Wall Street closed with mixed results after president Obama expressed his frustration in regards to the US shutdown that lasted two weeks. Amid analyses aiming to assess the cost of the paralysis and measures to be taken after discussions with little action, market participants favor an Aussie stronger and backed up by improving results in the country.
AUD/USD Technical Levels
Price action reveals a pair that extended the upward trendline, broken once, starting last September 2nd. On bullish rally, the pair soared 0.85% today accumulating 1.75% weekly gains and almost 300 pips in monthly gains. Offered at 0.9631, the pair oscillates between supports aligned at 0.9590 (October 4th highs), 0.9532 (September 15th highs) ahead of 0.9464 (May 30th lows) and the resistances set at 0.9667 (June 10th highs), 0.9714 (May 13th lows) followed by 0.9772 (June 4th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
Some win, others lose
Wall Street closed with mixed results after president Obama expressed his frustration in regards to the US shutdown that lasted two weeks. Amid analyses aiming to assess the cost of the paralysis and measures to be taken after discussions with little action, market participants favor an Aussie stronger and backed up by improving results in the country.
AUD/USD Technical Levels
Price action reveals a pair that extended the upward trendline, broken once, starting last September 2nd. On bullish rally, the pair soared 0.85% today accumulating 1.75% weekly gains and almost 300 pips in monthly gains. Offered at 0.9631, the pair oscillates between supports aligned at 0.9590 (October 4th highs), 0.9532 (September 15th highs) ahead of 0.9464 (May 30th lows) and the resistances set at 0.9667 (June 10th highs), 0.9714 (May 13th lows) followed by 0.9772 (June 4th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.