Monday, November 2, 2009 (Barcelona) - The Pound is weakening sharply on early European session times and after being rejected at 1.6480 , the Sterling has given (Barcelona) - Australian Dollar's decline from 0.9175/85 resistance area, tested unsuccessfully on Thursday and Friday, found support at 0.8900, on early Asian session, and the pair advances at levels above 0.9070 on early European session.

To resume uptrend the Aussie should break above 0.9200, according to Liviu Flesar, technical analyst at InnerFX: "The Aussie dollar recovers after finding support on the .8900 handle but has yet to break above .9200 to confirm uptrend resumption. Current recovery could be a result of pricing-in tomorrow’s RBA Interest Rate decision which is expected to rise rate by .25% to 3.50%."

At the moment, with the pair approaching 0.9100, according to Flesar, next resistance levels lie at 0.9120/30, 0.9200 and 0.9250/70. On the downside, support levels are 0.9000, 0.8950 and 0.8900

AUD/USD (Nov 02 at 09:14 GMT)

0.9060/70 (1.07%)

H 0.908 L 0.8904

[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Nov 02 at 09:05 (15-minute timeframe)

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