FXstreet.com (Córdoba) - The Australian dollar managed to trim losses against its US counterpart after falling to a 10-day low of 1.0154 during the European session. However, the recovery has been capped by the 1.0190 zone, confining the pair to a very narrow range ahead of the Wall Street opening.
At time of writing, AUD/USD is quoting at the 1.0170/75 area, still down 0.2% on the day. "The main support around 1.0150 that resides near the Linear Regression Indicator 55 was capable of halting the downside move and pushed the pair higher", says the ICN.com team. "Now, we need stability above 1.0225 to support the return of the upside move. On the other hand, breaching 1.0150 and confirming it with the breach of 1.0130 signals the start of a new downside wave".
At time of writing, AUD/USD is quoting at the 1.0170/75 area, still down 0.2% on the day. "The main support around 1.0150 that resides near the Linear Regression Indicator 55 was capable of halting the downside move and pushed the pair higher", says the ICN.com team. "Now, we need stability above 1.0225 to support the return of the upside move. On the other hand, breaching 1.0150 and confirming it with the breach of 1.0130 signals the start of a new downside wave".
