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11 Sep 2013
AUD/USD unstoppable; reaches 0.9335, 6-week peaks
FXstreet.com (Chicago) - AUD/USD continues edging higher in the afternoon of the American trading session. The pair prints 6-week highs at 0.9335 and extends bullish channel to print 0.21% daily gains and add up more to the 164 pips weekly gains made so far.
Outperforming results
Earlier in Australia, the Westpac consumer confidence result outperformed past data to reach 4.7% vs. prior 3.5%. The Westpac consumer confidence index for September was 110.6 vs. past 105.7. The Aussie started strong during the Asian session and extended the upward trendline throughout the day. In the afternoon of the American session, fresh highs are registered.
AUD/USD Technical Levels
Price action reveals the extension of a bullish channel after short-lived retracement originated after touching 0.9320 limits. The pair broke through resistance above 0.9330 and oscillates between the supports at 0.9292 (July 26th highs), 0.9233 (August 20th highs), 0.9188 (September 4th highs) and the resistances aligned at 0.9344 (June 26th highs), 0.9382 (June 9th lows) and 0.9417 (June 11th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and is offered above the EMA20.
Outperforming results
Earlier in Australia, the Westpac consumer confidence result outperformed past data to reach 4.7% vs. prior 3.5%. The Westpac consumer confidence index for September was 110.6 vs. past 105.7. The Aussie started strong during the Asian session and extended the upward trendline throughout the day. In the afternoon of the American session, fresh highs are registered.
AUD/USD Technical Levels
Price action reveals the extension of a bullish channel after short-lived retracement originated after touching 0.9320 limits. The pair broke through resistance above 0.9330 and oscillates between the supports at 0.9292 (July 26th highs), 0.9233 (August 20th highs), 0.9188 (September 4th highs) and the resistances aligned at 0.9344 (June 26th highs), 0.9382 (June 9th lows) and 0.9417 (June 11th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and is offered above the EMA20.