• 760 days Will The ECB Continue To Hike Rates?
  • 761 days Forbes: Aramco Remains Largest Company In The Middle East
  • 762 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,162 days Could Crypto Overtake Traditional Investment?
  • 1,167 days Americans Still Quitting Jobs At Record Pace
  • 1,169 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,172 days Is The Dollar Too Strong?
  • 1,172 days Big Tech Disappoints Investors on Earnings Calls
  • 1,173 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,175 days China Is Quietly Trying To Distance Itself From Russia
  • 1,175 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,179 days Crypto Investors Won Big In 2021
  • 1,179 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,180 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,182 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,183 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,186 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,187 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,187 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,189 days Are NFTs About To Take Over Gaming?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

AUD/USD: The Short-Term Double-Top Calls for Further Weakness

AUD/USD has broken its support at 0.9058, after failing to decisively break the resistance at 0.9221. The implied short-term double-top calls for further weakness towards 0.8895. An hourly support lies at 0.8920 (07/08/2013 low). Hourly resistances can be found at 0.9058 (intraday high) and 0.9103 (19/08/2013 low).

In the longer-term, the break of the strong support at 0.9388 (04/10/2011 low) opens the way for a further medium-term decline. However, we keep in mind that if the current recovery phase were to gain traction and decisively break the key resistance at 0.9345, we would have to reassess our outlook. Other resistances are at 0.9500 (psychological level) and 0.9666 (14/06/2013 high).

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment