AUD/USD targets key 0.9460 limits; prints 0.9451 session highs

FXstreet.com (Chicago) - AUD/USD registered 0.9451 session highs at Tokyo’s opening strengthening a bullish momentum on better than expected Australian data and a US that is divided.

Australia celebrates; the US paralyzed

Earlier in Australia, the AiG performance of construction index for September was released at 47.6 vs. past 43.7 confirming growth rumors of a new beginning in the economy of the country. In the meantime, the US remains one of the main concerns for market participants as a potential debt default may be on its way –hard deadline next October 19th amid a divided and paralyzed political system.

AUD/USD Technical Levels

Technically speaking, the pair approaches the 0.9460 key resistance after extending wins and registering higher lows and highs shortly after Tokyo’s opening. Offered at 0.9448, the pair navigates between supports aligned at 0.94 (September 26th highs), 0.9374 (September 27th highs) ahead of 0.9335 (October 2nd lows) and the resistances set at 0.9456 (October 4th highs), 0.9484 (September 19th lows) followed by 0.9528 (September 18th highs). Confirming the primary and secondary trends’ rhythms, short-term expectations are bullish

FXstreet.com Chief Analyst, Valeria Bednarik, states that “in the 4 hours chart however, the pair is still biased higher according to technical readings, as indicators head slightly higher in positive territory, and price holds above 20 SMA. A break above afore mentioned resistance should favor a recovery up to 0.9520 price zone, past month high.”