13 January 2014, 17:54  The rally of the Australian dollar versus the greenback falters

The rally of the Australian dollar versus the greenback faltered after the AUD/USD found resistance at a 1-month high of 0.9072. After rising near 200 pips on the back of disappointing nonfarm payrolls, the AUD/USD peaked during Monday's European session and started a corrective movement that has extended to the 0.9050 zone so far. At time of writing, the AUD/USD is trading around 0.9055, recording a 0.6% gain on the day, with no data scheduled for the rest of the day. In terms of technical levels, the AUD/USD could find immediate resistances at 0.9072 (Jan 13 high), 0.9100 (psychological level) and 0.9115 (50-day SMA). On the flip side, supports are now seen at 0.9020 (20-hour SMA), 0.9000 (psychological level) and 0.8985 (Jan 13 low).

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