Back
27 Aug 2013
AUD/USD, breathes in; reversal attempt in action
FXstreet.com (Chicago) - AUD/USD was smashed by market participants’ reactions to Syrian conflict and potential US retaliation after the use of chemical weapons last week to silence 1,300 civilians in the country.
Shaky risk barometer
The Aussie reached 0.8933 lows (double lows from last August 20th) to bounce off grounds on an attempt to erase 0.51% daily losses incurred so far. The Aussie hast lost almost 300 pips this month, down 2.98%.
AUD/USD Technical Levels – bullish short-term bias
Price action reveals an attempt to erase losses as the pair rises close to 0.90 psychological level. At 0.8986, the pair fluctuates between supports at 0.8944 (August 21st lows), 0.8920 (August 7th lows) ahead of 0.8888 (August 2nd lows) and resistances at 0.8991 (August 23rd lows), 0.9024 (August 19th lows) followed by 0.9056 (August 21st highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis despite trading below the EMA20.
Shaky risk barometer
The Aussie reached 0.8933 lows (double lows from last August 20th) to bounce off grounds on an attempt to erase 0.51% daily losses incurred so far. The Aussie hast lost almost 300 pips this month, down 2.98%.
AUD/USD Technical Levels – bullish short-term bias
Price action reveals an attempt to erase losses as the pair rises close to 0.90 psychological level. At 0.8986, the pair fluctuates between supports at 0.8944 (August 21st lows), 0.8920 (August 7th lows) ahead of 0.8888 (August 2nd lows) and resistances at 0.8991 (August 23rd lows), 0.9024 (August 19th lows) followed by 0.9056 (August 21st highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis despite trading below the EMA20.