3 Sep 2013
AUD/USD rejected below 0.90 on worse than expected Aus domestic data
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last quoted at 0.8996 off recent session highs at 0.9026 retracing on the back of lower than expected Australia retail sales for the month of July at +0.1% vs +0.4% expected, while Australian current account deficit widened to -9.4B when consensus was around 8.5B.
AUD/USD in short-term holding pattern
“AUD/USD is in short-term holding pattern .8960/.9015 but the big levels to watch are still .8890/.9070,” said FXWW founder Sean Lee, adding: “RBA widely expected to stay on hold and keep language unchanged.” RBA monetary policy statement will be released at 04:30 GMT.
AUD/USD key technical levels
Immediate resistance to the upside for AUD/USD shows at recent session highs/August 20 lows 0.9026, followed by August 22 highs at 0.9044, and August 26 highs at 0.9071. To the downside, closest support lies at August 23 lows at 0.8970, followed by August 22/27 lows at 0.8932/30, and August 28 lows at 0.8892.
AUD/USD in short-term holding pattern
“AUD/USD is in short-term holding pattern .8960/.9015 but the big levels to watch are still .8890/.9070,” said FXWW founder Sean Lee, adding: “RBA widely expected to stay on hold and keep language unchanged.” RBA monetary policy statement will be released at 04:30 GMT.
AUD/USD key technical levels
Immediate resistance to the upside for AUD/USD shows at recent session highs/August 20 lows 0.9026, followed by August 22 highs at 0.9044, and August 26 highs at 0.9071. To the downside, closest support lies at August 23 lows at 0.8970, followed by August 22/27 lows at 0.8932/30, and August 28 lows at 0.8892.