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30 Apr 2013
Forex: AUD/USD retreats to 1.0350
FXstreet.com (Barcelona) - After hitting fresh session highs around 1.0370, the Aussie dollar has initiated a correction lower to the current levels in the vicinity of 1.0350, as risk aversion is creeping back to the markets.
“The 0.75% rise in the AUD/USD in the past 24 hours puts the pair firmly back inside the 1.02-1.06 range and where we expect it to remain for the time, and regardless of whether or not the RBA decides to cut rates as early as next Tuesday”, commented the research team at NAB.
At the moment the pair is up 0.03% at 1.0353 with the next resistance at 1.0379 (MA21d) ahead of 1.0399 (high Apr.16) and then 1.0448 (high Apr.15).
On the downside, a breach of 1.0302 (MA10d) would aim for 1.0290 (hourly high/low Apr.29) and finally 1.0263 (low Apr.26).
“The 0.75% rise in the AUD/USD in the past 24 hours puts the pair firmly back inside the 1.02-1.06 range and where we expect it to remain for the time, and regardless of whether or not the RBA decides to cut rates as early as next Tuesday”, commented the research team at NAB.
At the moment the pair is up 0.03% at 1.0353 with the next resistance at 1.0379 (MA21d) ahead of 1.0399 (high Apr.16) and then 1.0448 (high Apr.15).
On the downside, a breach of 1.0302 (MA10d) would aim for 1.0290 (hourly high/low Apr.29) and finally 1.0263 (low Apr.26).