26 Jul 2013
AUD/USD trading at the 0.9250 region
FXstreet.com (New York) - The AUD/USD foreign exchange rate has rebounded slightly to the upside, preventing a drop lower during Asian trading Friday morning.
AUD/USD strategic bias
According to Jim Langlands at FX Charts, “I suspect that we are in a wide 0.9000/0.9300 range and thus we are approaching the top end. I would therefore look to be a cautious seller at current levels looking to add to the position in the range of 0.9300/0.9345 (26 June high) with a SL placed on a break 0.9370. Above 0.9350, the AUD could head higher towards 0.9368 (23.6% of 1.0582/0.8998), above which, the descending trend resistance is at 0.9435.”
AUD/USD technical levels
At the time of writing, the AUD/USD is trading positively at +0.01% so far, now operating at 0.9246 during Asian trading. Technically speaking, the AUD/USD is projected to encounter calculated resistance at 0.9250 (July 2 high), onto 0.9278 (July 25 high), and 0.9302 (July 24 high). Conversely, the pair will meet support at 0.9217 (55-day MA), ahead of 0.9200 (200-day SMA).
AUD/USD strategic bias
According to Jim Langlands at FX Charts, “I suspect that we are in a wide 0.9000/0.9300 range and thus we are approaching the top end. I would therefore look to be a cautious seller at current levels looking to add to the position in the range of 0.9300/0.9345 (26 June high) with a SL placed on a break 0.9370. Above 0.9350, the AUD could head higher towards 0.9368 (23.6% of 1.0582/0.8998), above which, the descending trend resistance is at 0.9435.”
AUD/USD technical levels
At the time of writing, the AUD/USD is trading positively at +0.01% so far, now operating at 0.9246 during Asian trading. Technically speaking, the AUD/USD is projected to encounter calculated resistance at 0.9250 (July 2 high), onto 0.9278 (July 25 high), and 0.9302 (July 24 high). Conversely, the pair will meet support at 0.9217 (55-day MA), ahead of 0.9200 (200-day SMA).