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Forex: AUD/USD eases back to 1.0456/58

FXstreet.com (Barcelona) - The AUD/USD has witnessed a similar rise as its other antipodean counterpart, recently peaking at the 1.0470 level. However, the upside attempt was stonewalled here, resulting in a paring of losses that caused the cross to ease back to 1.0456/58 in these moments – despite this movement, the pair still holds onto a +0.44% gain Tuesday.

“The AUD/USD experienced a recent rise, confirming stability above Linear Regression Indicators after touching 38.2% correction at 1.0350. The pair is also trading above 1.0410 – represents 23.6% Fibonacci – promoting chances for an extension to the uptrend. However, breaching and residing above 1.0495 is necessary to bolster chances of an extending uptrend.” reiterates the ICN.com analyst team.

According to Research Analyst Gareth Berry at UBS, “We remain bullish on the AUD/USD as long as the support at 1.0306 holds – there is scope for further upside in the near-term. Resistance is at 1.0497, while a break above would open 1.0604.

Forex: NZD/USD rebuffed by 0.8500 level

The NZD/USD has been quietly notching steadfast gains in recent days, however the 0.8500 level today has proved to be too stark a barrier to overcome (0.8498 session high). In these moments the cross is still within range to threaten this level, trading at 0.8483/86, en route to a +0.29% gain Tuesday.
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