28 Jun 2013
AUD/USD finds bids around 0.9220
Fxstreet.com (Edinburgh) - After a negative start, the Aussie dollar managed to gather traction and lift the AUD/USD to the current area of 0.9270/80 after dipping to the vicinity of 0.9220.
AUD/USD outlook remains bearish
The par found buying interest after the Private Sector Credit in Australia grew at an annual pace of 3.0% during May and 0.3% inter-month, exceeding the median. Strategists G.Berry and G.Yu at UBS remain bearish on the pair, adding “With the MACD below its zero line, we expect the resistance at 0.9407 to hold on closing basis. Support is at 0.9143. A closing break below this will trigger deeper sell-off”.
AUD/USD critical levels
As of writing the pair is flat at 0.9277 with the next resistance at 0.9435 (resistance line) ahead of 0.9665 (high June). On the flip side, a breach of 0.900 (psychological level) would bring 0.8770 (low August 2010).
AUD/USD outlook remains bearish
The par found buying interest after the Private Sector Credit in Australia grew at an annual pace of 3.0% during May and 0.3% inter-month, exceeding the median. Strategists G.Berry and G.Yu at UBS remain bearish on the pair, adding “With the MACD below its zero line, we expect the resistance at 0.9407 to hold on closing basis. Support is at 0.9143. A closing break below this will trigger deeper sell-off”.
AUD/USD critical levels
As of writing the pair is flat at 0.9277 with the next resistance at 0.9435 (resistance line) ahead of 0.9665 (high June). On the flip side, a breach of 0.900 (psychological level) would bring 0.8770 (low August 2010).