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26 Aug 2013
AUD/USD testing resistance at Thursday / Friday’s highs at 0.9042
FXstreet.com (Barcelona) - The AUD/USD catches a bid early Monday and is testing some upside limits created by Thursday and Friday’s peaks at around 0.9042.
Traders await US data Monday morning
Traders of AUD/USD will be tuned into the US Durable Goods data at 12:30 GMT and the Dallas Fed Manufacturing Index at 14:30 GMT for a decision on whether to push through this short-term resistance or cave in under its pressure.
Technical outlook for AUD/USD
The AUD/USD cross will have to close above this resistance at 0.9042 to open up more upside potential for the short-term. The next major hurdle above that will be 0.9102 – the 8/19 low. On the other hand, bears need the AUD/USD to cave through Friday’s low at 0.8970 and Wednesday’s low at 0.8931 for their thesis to come to fruition in a big way.
Traders await US data Monday morning
Traders of AUD/USD will be tuned into the US Durable Goods data at 12:30 GMT and the Dallas Fed Manufacturing Index at 14:30 GMT for a decision on whether to push through this short-term resistance or cave in under its pressure.
Technical outlook for AUD/USD
The AUD/USD cross will have to close above this resistance at 0.9042 to open up more upside potential for the short-term. The next major hurdle above that will be 0.9102 – the 8/19 low. On the other hand, bears need the AUD/USD to cave through Friday’s low at 0.8970 and Wednesday’s low at 0.8931 for their thesis to come to fruition in a big way.