AUD/USD Outlook: September, 3 2013
FinFX | Sep 03, 2013 06:15AM ET
The near-term structure remains positive as the price heads higher off of the near-term base and the double-bottom at 0.8891. A sustained break above the psychological 0.9000 barrier opens way for an extension towards 0.9068, 26/08 high, to complete the downleg and confirm a double-bottom formation. A break of which would signal a possible stronger recovery, and positive near-term studies remain supportive. From the other side, the larger picture remains bearish with the downside risk being in play as long as the 0.9230/40 barriers cap.
Resistance: 0.9000; 0.9026; 0.9068; 0.9100
Support: 0.8962; 0.8923; 0.8890; 0.8846
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