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9 Sep 2013
AUD/USD opens above 0.9200 for 1st time in 3 weeks
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last quoted at 0.9204 bids off recent early session highs at 0.9216 following the change in government in Australia after this weekend elections and positive trade balance data coming out of China.
AUD/USD strong resistance coming
“On Friday, the AUDUSD continued moving higher and ended a bullish week on a bullish note,” said Australia based Price Action Forex Trader Nial Fuller, adding: “However, there is some strong resistance coming in close overhead and we could see this current rally stall at resistance near 0.9230 or up at the key resistance near 0.9320. Traders could consider selling if an obvious daily chart price action sell signal forms in this market from resistance next week.”
AUD/USD key technical levels
Immediate resistance to the upside for AUD/USD shows at recent session/Friday's highs 0.9216/18, followed by August 12 highs at 0.9221, and August 19 highs at 0.9233. To the downside, closest support lies at Thursday/Wednesday's highs 0.9189, followed by session lows at 0.9177, and Friday's lows at 0.9114.
AUD/USD strong resistance coming
“On Friday, the AUDUSD continued moving higher and ended a bullish week on a bullish note,” said Australia based Price Action Forex Trader Nial Fuller, adding: “However, there is some strong resistance coming in close overhead and we could see this current rally stall at resistance near 0.9230 or up at the key resistance near 0.9320. Traders could consider selling if an obvious daily chart price action sell signal forms in this market from resistance next week.”
AUD/USD key technical levels
Immediate resistance to the upside for AUD/USD shows at recent session/Friday's highs 0.9216/18, followed by August 12 highs at 0.9221, and August 19 highs at 0.9233. To the downside, closest support lies at Thursday/Wednesday's highs 0.9189, followed by session lows at 0.9177, and Friday's lows at 0.9114.