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27 May 2014
AUD/USD probed the 0.9280 peaks
FXStreet (Edinburgh) - The Aussie dollar is now retracing the spike to fresh highs near 0.9280 at the end of the Asian session, taking the AUD/USD back to the 0.9265/60 area.
AUD/USD supported at 0.9220
Spot is now trying to put further distance from recent lows around the 0.9220 region, partially recovering ground lost after the sharp sell-off in mid-May at the same time. With no docket in Oz today, the pair’s price action would follow the key US releases” Durable Goods Orders and Consumer Confidence. “AUD is still likely in a consolidation phase, continue to expect range trading between 0.9225 and 0.9275”, observed Quek Ser Leang, Market Strategist at UOB Group.
AUD/USD relevant levels
As of writing, the pair is up 0.20% at 0.9255 with the next resistance at 0.9286 (50-d MA) ahead of 0.9300 (psychological level) and finally 0.9336 (high May 20). On the downside, a break below 0.9208 (low May 21) would open the door to 0.9174 (200-d MA) and then 0.9155 (low Mar.26).
AUD/USD supported at 0.9220
Spot is now trying to put further distance from recent lows around the 0.9220 region, partially recovering ground lost after the sharp sell-off in mid-May at the same time. With no docket in Oz today, the pair’s price action would follow the key US releases” Durable Goods Orders and Consumer Confidence. “AUD is still likely in a consolidation phase, continue to expect range trading between 0.9225 and 0.9275”, observed Quek Ser Leang, Market Strategist at UOB Group.
AUD/USD relevant levels
As of writing, the pair is up 0.20% at 0.9255 with the next resistance at 0.9286 (50-d MA) ahead of 0.9300 (psychological level) and finally 0.9336 (high May 20). On the downside, a break below 0.9208 (low May 21) would open the door to 0.9174 (200-d MA) and then 0.9155 (low Mar.26).