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18 Jun 2013
AUD/USD threatens to regain 0.9500
FXstreet.com (Córdoba) - The AUD/USD has extended its recovery during American hours, supported by advance seen in stocks.
AUD/USD bottomed out at the 0.9440 area, weighed by RBA minutes and the downward revision in the Q1 Chinese current account, but it has managed to regain ground, rising back above the 0.9500 mark in recent dealings.
AUD/USD still looks vulnerable
At time of writing, AUD/USD is trading at the 0.9505/10 zone, still down 0.4% on the day. From a technical view, Valeria Bednarik, chief analyst at FXstreet.com, recently commented that technical readings present a strong bearish tone in 4-hour chart, supporting a stronger downward continuation on a break below 0.9420 support.
Bednarik locates supports at 0.9420, 0.9380 and 0.9345, while she sees resistances at 0.9510, 0.9560 and 0.9600.
AUD/USD bottomed out at the 0.9440 area, weighed by RBA minutes and the downward revision in the Q1 Chinese current account, but it has managed to regain ground, rising back above the 0.9500 mark in recent dealings.
AUD/USD still looks vulnerable
At time of writing, AUD/USD is trading at the 0.9505/10 zone, still down 0.4% on the day. From a technical view, Valeria Bednarik, chief analyst at FXstreet.com, recently commented that technical readings present a strong bearish tone in 4-hour chart, supporting a stronger downward continuation on a break below 0.9420 support.
Bednarik locates supports at 0.9420, 0.9380 and 0.9345, while she sees resistances at 0.9510, 0.9560 and 0.9600.