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15 Mar 2013
Forex: AUD/USD eyes 1.0400 as risk-on trade sharpens
FXstreet.com (Barcelona) - The Aussie dollar is trading almost unchanged on Friday, despite the risk-on tone in the markets is posed to extend yesterday’s rally, pushing the cross to test Thursday’s highs above the key resistance of 1.0400
“The recent strength is approaching resistance 1.0414, a closing break above would be positive opening 1.0458. Support is at 1.0267 ahead of 1.0202”, commented Strategists G.Yu and G.Berry at UBS.
At the moment, the cross is losing 0.01% with the immediate support at 1.0376 (Upper Bollinger) ahead of 1.0360 (MA200d) and finally 1.0358 (50% Fib of 1.0599-1.0116).
On the upside, a breakout of 1.0404 (high Mar.14) would expose 1.0406 (daily cloud base) and then 1.0437 (daily cloud top).
“The recent strength is approaching resistance 1.0414, a closing break above would be positive opening 1.0458. Support is at 1.0267 ahead of 1.0202”, commented Strategists G.Yu and G.Berry at UBS.
At the moment, the cross is losing 0.01% with the immediate support at 1.0376 (Upper Bollinger) ahead of 1.0360 (MA200d) and finally 1.0358 (50% Fib of 1.0599-1.0116).
On the upside, a breakout of 1.0404 (high Mar.14) would expose 1.0406 (daily cloud base) and then 1.0437 (daily cloud top).