Back
21 Jun 2013
AUD/USD supported above 0.9200
FXstreet.com (London) - AUD/USD has brushed itself off after the FOMC announcements and climbed higher above 0.9200.
We saw the dollar, rally considerably and the Antipodean’s suffered the most with the Aussie printing a low of 0.9163. It has since rebounded, modestly, driftting back up through 0.9262 and currently settles 0.9210/20. TD Securities research teams noted that overnight, markets settled considerably after the volatility in recent days, and consolidation has been the theme across all asset classes and they said in the FX space, we’ve seen a small bounce in the currencies most heavily sold in the aftermath of FOMC, which has made the AUD the marginal outperformer among the G10 overnight.
AUD/USD still Bearish
Karen Jones, Analyst at Commerzbank said AUD/USD has seen a massive acceleration on the downside towards the initial downside target of 0.9150/47; this is the 38.2% retracement of the move from 2008 to 2011. She said the previous major support at 0.9404/0.9388 (lows 2011 and the highs from 2009 and 2010) is now expected to act as resistance and while capped here the market will remain directly offered.
We saw the dollar, rally considerably and the Antipodean’s suffered the most with the Aussie printing a low of 0.9163. It has since rebounded, modestly, driftting back up through 0.9262 and currently settles 0.9210/20. TD Securities research teams noted that overnight, markets settled considerably after the volatility in recent days, and consolidation has been the theme across all asset classes and they said in the FX space, we’ve seen a small bounce in the currencies most heavily sold in the aftermath of FOMC, which has made the AUD the marginal outperformer among the G10 overnight.
AUD/USD still Bearish
Karen Jones, Analyst at Commerzbank said AUD/USD has seen a massive acceleration on the downside towards the initial downside target of 0.9150/47; this is the 38.2% retracement of the move from 2008 to 2011. She said the previous major support at 0.9404/0.9388 (lows 2011 and the highs from 2009 and 2010) is now expected to act as resistance and while capped here the market will remain directly offered.