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5 Mar 2014
AUD/USD resumes advance but holds below 0.9000
FXStreet (Córdoba) - The AUD/USD has slowly moved higher during the European session, gaining back ground after sharp swings in the wake of stronger-than-expected Australian GDP.
The AUD/USD pulled back sharply after being rejected by the 0.8995 area and fell to a low of 0.8933 before resuming the advance. However, the latest bullish attempt has been capped by the 0.8980 zone, confining the pair to a phase of consolidation ahead of the Wall Street opening.
AUD/USD technical levels
At time of writing, the Aussie is trading at the 0.8975 zone, recording a 0.3% gain on the day, with immediate resistances lining up at 0.8900 (psychological level) and 0.9025 (Feb 26 high). On the flip side, supports are seen at 0.8910/09 (50-day SMA/Mar 4 low) and 0.8890 (Mar 3 low).
The AUD/USD pulled back sharply after being rejected by the 0.8995 area and fell to a low of 0.8933 before resuming the advance. However, the latest bullish attempt has been capped by the 0.8980 zone, confining the pair to a phase of consolidation ahead of the Wall Street opening.
AUD/USD technical levels
At time of writing, the Aussie is trading at the 0.8975 zone, recording a 0.3% gain on the day, with immediate resistances lining up at 0.8900 (psychological level) and 0.9025 (Feb 26 high). On the flip side, supports are seen at 0.8910/09 (50-day SMA/Mar 4 low) and 0.8890 (Mar 3 low).