AUD/USD Outlook: September, 23 2013
FinFX | Sep 23, 2013 05:23AM ET
AUD/USD
The Aussie trades in near-term corrective mode, with price action coming under increased pressure after anextension of pullback from 0.9526 peak dipped to 0.9365 so far. Hourly studies are still weak, however, quick recovery above 0.9400 handle keeps the positive tone on the larger timeframes in play. Clearance of lower platform at 0.9455, is seen as minimum requirement to avert downside risk and shift focus towards 0.9500 and 0.9526 barriers. Otherwise, a loss of 0.9365, session low and higher platform at 0.9340, would keep the downside vulnerable and risk stronger correction. Strong supports lay at 0.9283, with a Fibonacci at 38.2% of 0.8891/0.9526 and 9222/00 on the higher platform and 50% retracement.
Resistance: 0.9455; 0.9483; 0.9500; 0.9526
Support: 0.9365; 0.9340; 0.9300; 0.9283
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