Back
21 Oct 2013
AUD/USD falls towards 0.9450 as 0.9475 proves resilient
FXstreet.com (Barcelona) - AUD/USD is 30 pips off its trend highs after repetitive failure at 0.9675, where domestic profit taking coupled with technical resistance (June 6, 14 highs) has blocked the progress by bulls.
Buy on dips name of the game
Despite the slide in Asia, NAB notes "the ‘buy on the dip’ game plan remains the same as order based buying continues to populate dips", adding that "Aussie will find some support under 0.9645/50 and the 0.9635/50 window looks the buy zone on the day."
AUD/USD still shows favourable technical readings
According to Valeria Bednarik, Chief Analyst at FXstreet.com: " In the 4 hours chart indicators are flat in overbought levels, showing no aims of turning south at the time being, while 20 SMA presents a strong bullish slope below current price, suggesting buyers are still in charge."
Buy on dips name of the game
Despite the slide in Asia, NAB notes "the ‘buy on the dip’ game plan remains the same as order based buying continues to populate dips", adding that "Aussie will find some support under 0.9645/50 and the 0.9635/50 window looks the buy zone on the day."
AUD/USD still shows favourable technical readings
According to Valeria Bednarik, Chief Analyst at FXstreet.com: " In the 4 hours chart indicators are flat in overbought levels, showing no aims of turning south at the time being, while 20 SMA presents a strong bullish slope below current price, suggesting buyers are still in charge."