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13 Aug 2014
AUD/USD breaks above 0.9300
FXStreet (Córdoba) - The AUD/USD rose sharply and rose through the 0.9300 level to fresh weekly highs as the greenback slumped across the board.
The AUD/USD rallied to a high of 0.9319 after the release of softer-than-expected US retail sales, and it was last trading at the 0.9310 zone, recording a 0.46% gain on the day.
Activity picked up somewhat Wednesday with the release of major data from the Eurozone, UK and US, with the dollar and the pound as the worst performers in the FX market.
AUD/USD technical perspective
“Technically, the short term picture has turned bullish, with indicators heading north in positive territory and 20 SMA gaining bearish slope well below current price”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart indicators also head higher above their midlines, with immediate resistance now at critical 0.9330 static level”.
The AUD/USD rallied to a high of 0.9319 after the release of softer-than-expected US retail sales, and it was last trading at the 0.9310 zone, recording a 0.46% gain on the day.
Activity picked up somewhat Wednesday with the release of major data from the Eurozone, UK and US, with the dollar and the pound as the worst performers in the FX market.
AUD/USD technical perspective
“Technically, the short term picture has turned bullish, with indicators heading north in positive territory and 20 SMA gaining bearish slope well below current price”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart indicators also head higher above their midlines, with immediate resistance now at critical 0.9330 static level”.