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28 Aug 2013
AUD/USD recovery falters at 0.8950 region
FXstreet.com (New York) - The AUD/USD technical pair could not continue its steadfast recovery, instead capping at the 0.8950 region and turning lower during the afternoon of US trading.
AUD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The AUD/USD completed a minor correction towards 0.9000 level yesterday, before heading lower again, resuming the bearish bias and acquiring 0.8935 first target. Further downside remains the most likely scenario, as price breaks below the previous low at 0.8930, eying 0.8845 as the next main downside target.”
AUD/USD technical levels
Given the recent recovery, losses have been reduced, though still are quite sizable on the day, now pegged at -0.50% off its opening – in these moments, the AUD/USD is now operating at 0.8937. Briefing the technicals, the AUD/USD remains fortified above support at 0.8921, ahead of 0.8887, and 0.8849, notes the Mataf.net analyst team.
AUD/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The AUD/USD completed a minor correction towards 0.9000 level yesterday, before heading lower again, resuming the bearish bias and acquiring 0.8935 first target. Further downside remains the most likely scenario, as price breaks below the previous low at 0.8930, eying 0.8845 as the next main downside target.”
AUD/USD technical levels
Given the recent recovery, losses have been reduced, though still are quite sizable on the day, now pegged at -0.50% off its opening – in these moments, the AUD/USD is now operating at 0.8937. Briefing the technicals, the AUD/USD remains fortified above support at 0.8921, ahead of 0.8887, and 0.8849, notes the Mataf.net analyst team.