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12 Aug 2013
AUD/USD now back below 0.9200
FXstreet.com (Edinburgh) -The Aussie dollar is now extending its pullback from overnight highs above 0.9220, dragging the AUD/USD back below 0.9200 the figure on Monday.
AUD/USD posed to recover ground
Absent data or events in Australia, the biggest market-mover in the Asian session was the Japanese Annualized GDP, expanding 2.6% during the second quarter and disappointing investors that were waiting 3.6%. In the opinion of Sean Callow, Strategist at Westpac, “Over the week the Aussie should make a run towards July highs above 0.9300, given the RBA’s likely steady hand in Sep, rising commodity prices and stretched spec positioning”.
AUD/USD levels to watch
At the moment the pair is flat at 0.9191 and a surpass of 0.9221 (high Aug.12) would bring 0.9227 (low Jul.26) and then 0.9257 (23.6% of 1.0583-0.8840). On the downside, support levels align at 0.9135 (high Aug.8) followed by 0.9125 (MA21d) and then 0.9089 (low Aug.9).
AUD/USD posed to recover ground
Absent data or events in Australia, the biggest market-mover in the Asian session was the Japanese Annualized GDP, expanding 2.6% during the second quarter and disappointing investors that were waiting 3.6%. In the opinion of Sean Callow, Strategist at Westpac, “Over the week the Aussie should make a run towards July highs above 0.9300, given the RBA’s likely steady hand in Sep, rising commodity prices and stretched spec positioning”.
AUD/USD levels to watch
At the moment the pair is flat at 0.9191 and a surpass of 0.9221 (high Aug.12) would bring 0.9227 (low Jul.26) and then 0.9257 (23.6% of 1.0583-0.8840). On the downside, support levels align at 0.9135 (high Aug.8) followed by 0.9125 (MA21d) and then 0.9089 (low Aug.9).