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10 Sep 2013
AUD/USD flirts with 0.9250, stops above in danger?
FXstreet.com (Barcelona) - The AUD/USD continues to expand gains towards the 0.93 area, with the latest upbeat NAB business confidence-induced spike.
AUD/USD has been propelled towards 0.9250, area where stops have been reported, and that is being defended at the moment. If breaking higher, according to Brent Hansen, Analyst at IFR Markets, notes 0.9270 22 Jul high immediate topside target.
As Sean Lee, Founder at FXWW, commented in FXWW chatroom: "AUD/USD techs show very steep s/t bull trend but stalling now at .9240. Lot of stops reported above this level yesterday. If bears can hold then we could see a nasty retrace lower. If bulls break through, then .9335/50 is next big level."
AUD/USD has been propelled towards 0.9250, area where stops have been reported, and that is being defended at the moment. If breaking higher, according to Brent Hansen, Analyst at IFR Markets, notes 0.9270 22 Jul high immediate topside target.
As Sean Lee, Founder at FXWW, commented in FXWW chatroom: "AUD/USD techs show very steep s/t bull trend but stalling now at .9240. Lot of stops reported above this level yesterday. If bears can hold then we could see a nasty retrace lower. If bulls break through, then .9335/50 is next big level."