11 Apr 2014
AUD/USD resumes the upside
FXStreet (Córdoba) - Following a corrective movement that sent the AUD/USD toward 0.9360 during the Asian session, the pair managed to resume the upside and erased daily losses.
The AUD/USD staged a comeback after bottoming out at 0.9361, recovering over 60 pips ever since and claiming the 0.9400 mark back. At time of writing, the AUD/USD is trading at the 0.9420 zone, up 0.1% on the day, having scored a high of 0.9425 in recent dealings. There were no first-tier data releases in Australia but Chinese CPI for March came in below estimates (2.4% YoY versus 2.5% exp).
AUD/USD levels to watch
In terms of technical levels, the AUD/USD could face immediate resistances at 0.9425 (Apr 11 high), 0.9460 (Apr 10 high) and 0.9500 (psychological level). On the flip side, supports are seen at 0.9361 (Apr 11 low), 0.9334 (Apr 9 low) and 0.9300 (psychological level).
The AUD/USD staged a comeback after bottoming out at 0.9361, recovering over 60 pips ever since and claiming the 0.9400 mark back. At time of writing, the AUD/USD is trading at the 0.9420 zone, up 0.1% on the day, having scored a high of 0.9425 in recent dealings. There were no first-tier data releases in Australia but Chinese CPI for March came in below estimates (2.4% YoY versus 2.5% exp).
AUD/USD levels to watch
In terms of technical levels, the AUD/USD could face immediate resistances at 0.9425 (Apr 11 high), 0.9460 (Apr 10 high) and 0.9500 (psychological level). On the flip side, supports are seen at 0.9361 (Apr 11 low), 0.9334 (Apr 9 low) and 0.9300 (psychological level).