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19 Apr 2013
Forex: AUD/USD retreats from highs
FXstreet.com (Barcelona) - The upside momentum in the AUD faded in the boundaries of 1.0360 on Friday, dragging the cross back to the 1.0335/40 region as risk aversion is stepping in the markets.
According to Strategist Sean Callow at Westpac, “The outlook brightens from mid-year though as BoJ QE should dovetail with the Fed’s to push AUD/USD back towards this year’s highs around 1.06”.
AUD/USD is now up 0.36% at 1.0340 facing the next resistance at 1.0354 (MA55d) ahead of 1.0398 (MA200d) and finally 1.0399 (high Apr.16).
On the flip side, a breach of 1.0280 (hourly lows Apr.18) would open the door to 1.0269 (low Apr.18) and then 1.0266 (low Mar.12).
According to Strategist Sean Callow at Westpac, “The outlook brightens from mid-year though as BoJ QE should dovetail with the Fed’s to push AUD/USD back towards this year’s highs around 1.06”.
AUD/USD is now up 0.36% at 1.0340 facing the next resistance at 1.0354 (MA55d) ahead of 1.0398 (MA200d) and finally 1.0399 (high Apr.16).
On the flip side, a breach of 1.0280 (hourly lows Apr.18) would open the door to 1.0269 (low Apr.18) and then 1.0266 (low Mar.12).