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AUD/USD clinches to 0.9300

FXStreet (Edinburgh) - The Aussie dollar is now looking to extend the overnight break above the 0.9300 mark, lifting the AUD/USD to the 0.9315/20 band.

AUD/USD supported at 0.9240

After bottoming in the boundaries of the 0.9240 level, spot seems to have found decent buying interest, regaining in consequence the 0.9300 handle and beyond. Data in Oz will be scarce and second-tier ahead in the week, leaving AUD traders’ focus on the risk appetite trends and the USD events. “We note that trend momentum remains negative, but it is also weak. Mixed signals on the short-term charts suggest more range trading in store for AUDUSD. Bullish prospects improve above 0.9330/35 but only a little (to 0.9395)”, noted Shaun Osborne, Chief FX Strategist at TD Securities.

AUD/USD levels to consider

At the moment the pair is losing 0.04% at 0.9312 facing the immediate support at 0.9293 (low Aug.22) ahead of 0.9235 (low Aug.21) and finally 0.9229 (low Jun.3). On the flip side, a break above 0.9330 (high Aug.22) would open the door to 0.9345 (high Aug.19) and then 0.9358 (high Aug.7).

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