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1 Nov 2013
AUD/USD clings to gains
FXstreet.com (Córdoba) - The AUD/USD failed to extend its recovery attempt above 0.9500 and was confined to a phase of consolidation Friday.
The AUD/USD is attempting to recover some ground after a 7-day losing streak, although the Aussie lacks real strength and moves are mainly corrective. The AUD/USD climbed to a high of 0.9489 only to find resistance and pull back to currently trade around 0.9470, still 0.2% above its opening price.
AUD/USD technical levels
In terms of technical levels, if the AUD/USD breaks decisively above the 0.9490/0.9500 zone, next resistances could be found at 0.9525 (Oct 31 high) and 0.9575 (Oct 29 high). On the other hand, supports are seen at 0.9440 (Nov 1 & Oct 30 low) and 0.9400 (psychological level).
The AUD/USD is attempting to recover some ground after a 7-day losing streak, although the Aussie lacks real strength and moves are mainly corrective. The AUD/USD climbed to a high of 0.9489 only to find resistance and pull back to currently trade around 0.9470, still 0.2% above its opening price.
AUD/USD technical levels
In terms of technical levels, if the AUD/USD breaks decisively above the 0.9490/0.9500 zone, next resistances could be found at 0.9525 (Oct 31 high) and 0.9575 (Oct 29 high). On the other hand, supports are seen at 0.9440 (Nov 1 & Oct 30 low) and 0.9400 (psychological level).