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6 Aug 2013
AUD/USD testing 0.9000 edges
FXstreet.com (Chicago) - AUD/USD steadied after earlier slippage as the Aussie continued strengthening against the greenback.
Price action indicated a pair that took off on positive Australian data released earlier this morning as housing price indexes outperformed expectations to reach 5.1% vs. 3.0% estimates. The RBA decided to lower its interest rate as hawkish perception was made evident by Governor Glenn Stevens on the official monetary statement. As journey advanced, the pair decline on publication of the US trade balance at $-34.22B vs. previous $-44.10B. After a strong bounce, the pair recovered losses to accumulate gains adding up to 0.69%.
Technically speaking, the FXstreet trend index reported the pair as neutral on one-hour timeframe analysis despite immediate resistance violation. On the downside, supports were at 0.8889, 0.8866 and 0.8844 while the upside aligned resistances at 0.8977, 0.9000 and 0.9022.
Price action indicated a pair that took off on positive Australian data released earlier this morning as housing price indexes outperformed expectations to reach 5.1% vs. 3.0% estimates. The RBA decided to lower its interest rate as hawkish perception was made evident by Governor Glenn Stevens on the official monetary statement. As journey advanced, the pair decline on publication of the US trade balance at $-34.22B vs. previous $-44.10B. After a strong bounce, the pair recovered losses to accumulate gains adding up to 0.69%.
Technically speaking, the FXstreet trend index reported the pair as neutral on one-hour timeframe analysis despite immediate resistance violation. On the downside, supports were at 0.8889, 0.8866 and 0.8844 while the upside aligned resistances at 0.8977, 0.9000 and 0.9022.