FX.co ★ AUD/USD - Rebound 0.9170 - daily strategy for July 26, 2013

It is notable that the Australian dollar recovers. While the Aussie is moving in a narrow price range that has as immediate resistance 0.9323 area, it could stretch its gains beyond this level to the 0.95 and 0.98. So we must wait a weekly close above this level to enter the new movement upward, like the other commodity currency, the New Zealand dollar has recovered considerably in recent days amid the possibility of a rate increase by the RBNZ. Therefore, it is likely to observe a new bounce in the 0.9170 area, which will be a new buying opportunity with target 0.9310 in the short term.

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