Having reached an intraday high around 0.9175, also fresh 3 weeks highs, Australian dollar is still quite attached to American indexes: losing momentum after worse than expected PMI data in the US, and with hourly momentum losing strength, while RSI shows overbought readings, pair could trigger a bearish corrective movement, once under 0.9140, aiming to test 0.9100/10 area first, and 0.9070 later today.
To the upside, pair needs to accelerate above 0.9180, to confirm a continuation rally, towards strong 0.9220 resistance zone, probable top for today, if reached. Extreme readings around that level, should also trigger some bearish corrective movement, towards mentioned 0.9180 zone.
To the upside, pair needs to accelerate above 0.9180, to confirm a continuation rally, towards strong 0.9220 resistance zone, probable top for today, if reached. Extreme readings around that level, should also trigger some bearish corrective movement, towards mentioned 0.9180 zone.
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