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2 May 2013
Forex: AUD/USD consolidates around 1.0250
FXstreet.com (Córdoba) - The Australian dollar managed to trim losses versus the greenback during the American session, after falling to a 1-week low of 1.0220, roughly the same level it bottomed out on Apr 23.
However, with the recovery being capped by the 1.0260 zone, and after the ECB dust settled, AUD/USD was confined to a phase of consolidation that has extended over the last hours. At time of writing, the pair is trading around 1.0250/55, still 0.2% below its opening price.
As for technical levels, if AUD/USD manages to overcome the 1.0260 area, next resistances are seen at 1.0283 (daily high) and 1.0295/1.0300 (200-hour SMA/psychological level). On the contrary, immediate supports are seen at 1.0220 (daily low) and 1.0200 (psychological level).
However, with the recovery being capped by the 1.0260 zone, and after the ECB dust settled, AUD/USD was confined to a phase of consolidation that has extended over the last hours. At time of writing, the pair is trading around 1.0250/55, still 0.2% below its opening price.
As for technical levels, if AUD/USD manages to overcome the 1.0260 area, next resistances are seen at 1.0283 (daily high) and 1.0295/1.0300 (200-hour SMA/psychological level). On the contrary, immediate supports are seen at 1.0220 (daily low) and 1.0200 (psychological level).