Forex: AUD/USD: Aussie rally from 0.8915, capped at 0.9145

on November 05 2009 3:51 AM

FXstreet.com (Barcelona) - Australian Dollar's recovery from 0.8915 low on Nov 03 reached its top at 0.9145 on post-Fed Dollae4r softening, and the pair eased during Thursday's Asian session, reaching session low at 0.9025 on early European session.

On a wider perspective, Liviu Flesar, technical analyst at InnerFX defends that short-term bias is negative while resistance at 0.9200 persists: Support is provided by .9020/50 and a break down could renew selling to .8950/60 which is a rising trend-line coming from .8240 as seen in the daily chart below. Short-term sentiment remains bearish as a break above .9200 is needed to signal uptrend resumption.

Support levels, according to Flesar, lie at 0.9020, 0.9000 and 0.8950/60 . Resistance levels are 0.9100, 0.9150, and 0.9200.

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