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19 Aug 2013
AUD/USD testing 0.9200
FXstreet.com (Edinburgh) -The Aussie dollar is now correcting lower, dragging the AUD/USD to a test of the key support at 0.9200 after posting highs beyond 0.9230 overnight.
AUD/USD in better tone ahead of RBA
The RBA will publish its minutes from the last meeting tomorrow, being the biggest event in the docket Down Under. According to Strategist Sean Callow at Westpac, “Presumably reduction of speculative short positions is playing a role. Friday’s CFTC data showed spec accounts cut AUD/USD net shorts to -62.7K contracts from the record short -76.8K the week prior. We remain positive on the Aussie multi-day/week, targeting 0.9300/50”.
AUD/USD relevant levels
At the moment the pair is up 0.11% at 0.9197 facing the next hurdle at 0.9221 (high Aug.12) and then 0.9227 (low Jul.26). On the flip side, a break below 0.9111 (MA21d) would expose 0.9064 (MA10d) and finally 0.9058 (low Aug.15).
AUD/USD in better tone ahead of RBA
The RBA will publish its minutes from the last meeting tomorrow, being the biggest event in the docket Down Under. According to Strategist Sean Callow at Westpac, “Presumably reduction of speculative short positions is playing a role. Friday’s CFTC data showed spec accounts cut AUD/USD net shorts to -62.7K contracts from the record short -76.8K the week prior. We remain positive on the Aussie multi-day/week, targeting 0.9300/50”.
AUD/USD relevant levels
At the moment the pair is up 0.11% at 0.9197 facing the next hurdle at 0.9221 (high Aug.12) and then 0.9227 (low Jul.26). On the flip side, a break below 0.9111 (MA21d) would expose 0.9064 (MA10d) and finally 0.9058 (low Aug.15).