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20 Oct 2014
AUD/USD clings to small gains
FXStreet (Córdoba) - AUD/USD clings to a small intraday gain at the beginning of the American session as Wall Street indexes open mixed.
AUD/USD is trading at the 0.8780 area near daily highs, but still unable to clear the 0.8790/0.8800 resistance area as investors remain cautious ahead of RBA minutes and a series of Chinese data to be released next Asian session.
According to Valeria Bednarik, chief analyst at FXStreet, the pair shows no directional strength in the short term, after spending the last sessions consolidating in a narrow range. “0.8820 is the key resistance to overcome, while short term support stands at 0.8730 now”, said the analyst.
AUD/USD levels to watch
On the upside, further technical levels are seen at 0.8860 (Oct 15 high) and 0.8898/0.8900 (Oct 9 high/psychological level). On the flip side, supports are seen at 0.8730 (Oct 17 low), 0.8700 (psychological level) and 0.8685 (Oct 16 low).
AUD/USD is trading at the 0.8780 area near daily highs, but still unable to clear the 0.8790/0.8800 resistance area as investors remain cautious ahead of RBA minutes and a series of Chinese data to be released next Asian session.
According to Valeria Bednarik, chief analyst at FXStreet, the pair shows no directional strength in the short term, after spending the last sessions consolidating in a narrow range. “0.8820 is the key resistance to overcome, while short term support stands at 0.8730 now”, said the analyst.
AUD/USD levels to watch
On the upside, further technical levels are seen at 0.8860 (Oct 15 high) and 0.8898/0.8900 (Oct 9 high/psychological level). On the flip side, supports are seen at 0.8730 (Oct 17 low), 0.8700 (psychological level) and 0.8685 (Oct 16 low).