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15 Jul 2013
AUD/USD resisting below 0.9100 post-China GDP
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last quoted at 0.9089 off recent session highs at 0.9110 following China GDP at 7.5% for the second quarter y/y, in line with expectations
AUD/USD rallies still a selling opportunity
According to FX Charts analyst Jim Langlands, "selling rallies remains the game plan I think, although patience may be required as the daily charts do remain oversold. This has been the case for the last few weeks and we could yet see a squeeze, but with the price action so far unable to maintain any sustained bounce, I still think that rallies are a selling opportunity."
AUD/USD key technical levels
Immediate support to the downside for AUD/USD lies at July 03 lows 0.9033, followed by Friday's lows at 0.8997, and Oct 20 2009 lows at 0.8976. To the upside, closest resistance shows at recent session highs 0.9095, followed by July 01 lows at 0.9105, and Thursday's lows at 0.9117.
AUD/USD rallies still a selling opportunity
According to FX Charts analyst Jim Langlands, "selling rallies remains the game plan I think, although patience may be required as the daily charts do remain oversold. This has been the case for the last few weeks and we could yet see a squeeze, but with the price action so far unable to maintain any sustained bounce, I still think that rallies are a selling opportunity."
AUD/USD key technical levels
Immediate support to the downside for AUD/USD lies at July 03 lows 0.9033, followed by Friday's lows at 0.8997, and Oct 20 2009 lows at 0.8976. To the upside, closest resistance shows at recent session highs 0.9095, followed by July 01 lows at 0.9105, and Thursday's lows at 0.9117.