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17 Oct 2013
AUD/USD clings to gains
FXstreet.com (Córdoba) - The AUD/USD remains bid during the American session, having reached a fresh 4-month high mainly due to broad USD weakness.
The AUD/USD printed its strongest level since Jun 14 at 0.9646 and even though it has lost steam within the last hours, it clings to highs, currently trading around 0.9640, where it records a 0.9% gain since opening.
AUD/USD technical perspective
"Despite overbought in the short term, there are no technical signs of a top or reversal, and further gains should be expected", said Valeria Bednarik, chief analyst at FXstreet.com. "0.9660 stands as immediate resistance as per being a strong midterm resistance level, and if above, chances turn towards parity in the midterm".
The AUD/USD printed its strongest level since Jun 14 at 0.9646 and even though it has lost steam within the last hours, it clings to highs, currently trading around 0.9640, where it records a 0.9% gain since opening.
AUD/USD technical perspective
"Despite overbought in the short term, there are no technical signs of a top or reversal, and further gains should be expected", said Valeria Bednarik, chief analyst at FXstreet.com. "0.9660 stands as immediate resistance as per being a strong midterm resistance level, and if above, chances turn towards parity in the midterm".