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Forex: AUD/USD remains below parity

FXstreet.com (Barcelona) - The Aussie dollar has managed to leave weekly lows around 0.9930 and regain the 0.9980 region on Tuesday, although still navigating in sub-parity levels.

Tim Ridell, Head of Global Markets at ANZ, commented, “Interim bounces through 1.0030 could see a mild consolidation into the 1.0070-1.0110 area, but only a surge above 1.0155 could undermine the current bias for a full technical range flip to 0.9580-0.9600”.

As of writing, AUD/USD is advancing 0.27% at 0.9979 with the next resistance at 1.0015 (high May 13) ahead of 1.0096 (high May 10).
On the flip side, a breakdown of 0.9922 (low Jun.14 2012) would expose 0.9850 (low Jun.12 2012) and finally 0.9827 (76.4% of 0.9581-1.0625).

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