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15 Aug 2013
AUD/USD uptrend intensifies, emergent bullishness detected
FXstreet.com (New York) - The AUD/USD foreign exchange rate erupted higher Thursday morning during Asian trading, retesting yesterdays high and bullying the USD.
In these moments, the AUD/USD is trading in the heights of 0.9155 Thursday, flexing its muscles amidst surpinsingly robust technicals. With a gain of +0.30% above its opening, the pair remains well insulated above its 200-day SMA (0.9115), with resistance already broken at 0.9130 (55-day MA). On the ascension, additional means of correction will trigger at 0.9150 (August 14 high), onto 0.9206 (July 30 high).
AUD/USD strategic bias
According to Ivan Delgado, Head of Asian Editors at FXstreet.com, “The AUD/USD technical outlook seems to have turned more constructive since triple downside failure at 0.9080. The pair has also broken its relationship with the 20-hourly EMA, which had been commanding prices lower ever since the 0.92/9210 top. The last buy on dips off 0.9120, which converges with a retest of regained 20-hourly EMA suggest major increase in buyer's participation. Solid break above 0.9150 exposes 0.9180 (Aug 12 swing high) ahead of round number 0.92/9210 (short term bull trend high – bullish pictures is negated on an hourly close below 0.9100.”
In these moments, the AUD/USD is trading in the heights of 0.9155 Thursday, flexing its muscles amidst surpinsingly robust technicals. With a gain of +0.30% above its opening, the pair remains well insulated above its 200-day SMA (0.9115), with resistance already broken at 0.9130 (55-day MA). On the ascension, additional means of correction will trigger at 0.9150 (August 14 high), onto 0.9206 (July 30 high).
AUD/USD strategic bias
According to Ivan Delgado, Head of Asian Editors at FXstreet.com, “The AUD/USD technical outlook seems to have turned more constructive since triple downside failure at 0.9080. The pair has also broken its relationship with the 20-hourly EMA, which had been commanding prices lower ever since the 0.92/9210 top. The last buy on dips off 0.9120, which converges with a retest of regained 20-hourly EMA suggest major increase in buyer's participation. Solid break above 0.9150 exposes 0.9180 (Aug 12 swing high) ahead of round number 0.92/9210 (short term bull trend high – bullish pictures is negated on an hourly close below 0.9100.”