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3 May 2013
Forex: AUD/USD trading positively at 1.0250/56
FXstreet.com (Barcelona) - The AUD/USD has been trading near its opening levels Friday, refusing to break higher or lower ahead of this afternoons US Nonfarm payroll data. Following a paring of overnight gains that took the cross to heights such as 1.0281 (daily high), the pair is now trading at 1.0250/56.
Mataf.net analysts identify means of resistive correction at 1.0283, then 1.0303, and finally 1.0333. On the pullback or a movement lower, a fall past the 1.0233 mark will enable short-term resistances at 1.0203, and eventually 1.0183.
“Just when USD weakness seemed sufficient for AUD/USD to break its ranges to the top side, 1.0400 failed to give way as gold and base metals tumbled once more. The dovish FOMC statement (flagging the chance of increasing QE, not just tapering off) fits the sluggish US economy and leaves open scope for renewed USD decline, meaning another run atv1.0400 is possible.” notes Global FX Strategist Sean Callow at Westpac.
Mataf.net analysts identify means of resistive correction at 1.0283, then 1.0303, and finally 1.0333. On the pullback or a movement lower, a fall past the 1.0233 mark will enable short-term resistances at 1.0203, and eventually 1.0183.
“Just when USD weakness seemed sufficient for AUD/USD to break its ranges to the top side, 1.0400 failed to give way as gold and base metals tumbled once more. The dovish FOMC statement (flagging the chance of increasing QE, not just tapering off) fits the sluggish US economy and leaves open scope for renewed USD decline, meaning another run atv1.0400 is possible.” notes Global FX Strategist Sean Callow at Westpac.