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25 Apr 2013
Forex: AUD/USD retraces from highs
FXstreet.com (Barcelona) - The Aussie dollar is trading in the positive ground on Thursday, gyrating around the key support at 1.0300 after hitting fresh intraday highs in the proximity of 1.0320 overnight.
Markets in Australia and New Zealand will be closed in remembrance of the ANZAC Day.
According to Strategist Sed M.Mohi-uddin at UBS, the Swiss bank remains bearish on the cross, adding, “With the trending indicators bearish, resistance at 1.0359 should hold any upside. Support is at 1.0202 ahead of 1.0115. Only a closing break above 1.0359 would suggest a more prolonged recovery to 1.0444”.
AUD/USD is now gaining 0.26% at 1.0308 with the next hurdle at 1.0345 (MA55d) and then 1.0358 (high Apr.19).
On the flip side, a breakdown of 1.0232 (low Apr.24) would bring 1.0221 (low Apr.23).
Markets in Australia and New Zealand will be closed in remembrance of the ANZAC Day.
According to Strategist Sed M.Mohi-uddin at UBS, the Swiss bank remains bearish on the cross, adding, “With the trending indicators bearish, resistance at 1.0359 should hold any upside. Support is at 1.0202 ahead of 1.0115. Only a closing break above 1.0359 would suggest a more prolonged recovery to 1.0444”.
AUD/USD is now gaining 0.26% at 1.0308 with the next hurdle at 1.0345 (MA55d) and then 1.0358 (high Apr.19).
On the flip side, a breakdown of 1.0232 (low Apr.24) would bring 1.0221 (low Apr.23).