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10 Sep 2013
AUD/USD around 40-day peaks; firm above 0.93
FXstreet.com (Chicago) - AUD/USD continues registering higher lows as the American trading journey advances. The pair was capped at 0.9313 (double tops with earlier session highs record) for a small retracement. The potential peaceful resolution boosts market participants’ confidence to maintain or increment their positions.
Light US data; conflict easing down
According to news sources, Syria is willing to join the one of the WMD treaties banning chemical weaponry. Pressed by an apparent cooling down of the conflict, market participants seem to be more confident on equities performance.
AUD/USD Technical Levels
Price action reveals a double-tops formation with a strong 0.9316 limit. The pair is now offered at 0.9309 and oscillates between supports at 0.9292 (July 27th highs), 0.9233 (August 18th highs) ahead of 0.9188 (September 3rd highs) and resistances at 0.9344 (June 26th highs), 0.9382 (June 7th lows) followed by 0.9417 (June 12th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and maintains 40-days peaks above the EMA20.
Light US data; conflict easing down
According to news sources, Syria is willing to join the one of the WMD treaties banning chemical weaponry. Pressed by an apparent cooling down of the conflict, market participants seem to be more confident on equities performance.
AUD/USD Technical Levels
Price action reveals a double-tops formation with a strong 0.9316 limit. The pair is now offered at 0.9309 and oscillates between supports at 0.9292 (July 27th highs), 0.9233 (August 18th highs) ahead of 0.9188 (September 3rd highs) and resistances at 0.9344 (June 26th highs), 0.9382 (June 7th lows) followed by 0.9417 (June 12th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and maintains 40-days peaks above the EMA20.