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5 Aug 2013
AUD/USD stabilizes above 0.8900 barrier
FXstreet.com (New York) - The AUD/USD technical pair found itself stable above 0.8900 during the afternoon of US trading, having recovered off an earlier calamity at 0.8848 (intraday low).
At the time of writing, the AUD/USD is presently negotiating a loss of -0.11% off it’s opening, though it is now operating at 0.8908 Monday. In terms of the technical levels, a plunge lower will retest supports at 0.8889, ahead of 0.8846, calculates the Mataf.net analyst team.
AUD/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “The AUD/USD has a fairly dreadful week last week, it has traded below and seen a weekly close below the psychological support at 0.9000. Our downside target remains 0.8550, the 50% retracement of the move up from 2008. Our longer term downside target measured from the top is 0.7700.”
At the time of writing, the AUD/USD is presently negotiating a loss of -0.11% off it’s opening, though it is now operating at 0.8908 Monday. In terms of the technical levels, a plunge lower will retest supports at 0.8889, ahead of 0.8846, calculates the Mataf.net analyst team.
AUD/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “The AUD/USD has a fairly dreadful week last week, it has traded below and seen a weekly close below the psychological support at 0.9000. Our downside target remains 0.8550, the 50% retracement of the move up from 2008. Our longer term downside target measured from the top is 0.7700.”