9 Jul 2013
AUD/USD extends the upside
FXstreet.com (Edinburgh) - The Aussie dollar is extending its bullish momentum on Tuesday, lifting the AUD/USD to the area of 0.9150.
AUD/USD bolstered by domestic data
In the data front, domestic Business Conditions index sponsored by NAB fell to -8 in June from -4 in the previous month while Business Confidence bettered to 0 from -1. According to the Westpac Global Strategy Group, “Strong US payrolls punctured an attempted recovery and should cap rallies at least into Bernanke’s 17-18 Jul semi-annual testimony. Look for squeezes to 0.9150/80 to be rebuffed, with scope for 0.89 multi-day”.
AUD/USD levels to watch
At the moment he pair is advancing 0.31% at 0.9163 with the next resistance at 0.9175 (MA10d) ahead of 0.9184 (high Jul.5) and finally 0.9190 (high Jul.3). On the flip side, a breakdown of 0.9042 (low Jul.8) would bring 0.9036 (2013 low Jul.3).
AUD/USD bolstered by domestic data
In the data front, domestic Business Conditions index sponsored by NAB fell to -8 in June from -4 in the previous month while Business Confidence bettered to 0 from -1. According to the Westpac Global Strategy Group, “Strong US payrolls punctured an attempted recovery and should cap rallies at least into Bernanke’s 17-18 Jul semi-annual testimony. Look for squeezes to 0.9150/80 to be rebuffed, with scope for 0.89 multi-day”.
AUD/USD levels to watch
At the moment he pair is advancing 0.31% at 0.9163 with the next resistance at 0.9175 (MA10d) ahead of 0.9184 (high Jul.5) and finally 0.9190 (high Jul.3). On the flip side, a breakdown of 0.9042 (low Jul.8) would bring 0.9036 (2013 low Jul.3).