28 Jun 2013
AUD/USD finds support at 0.9130
Fxstreet.com (Edinburgh) - The Aussie dollar is intensifying its decline on Friday as a wave of selling orders is hitting the risk-associated assets, dragging AUD/USD to fresh lows around 0.9150.
AUD/USD posed for deeper pullbacks
After dipping to the boundaries of 0.9130 the pair found some buying interest despite the risk aversion continues to swell amongst traders. “The short term rally in AUD/USD has scope to re-challenge the .9435 resistance line, but is not expected to sustain a move much beyond .9490 (23.6% retracement of sell off) prior to another leg lower”, commented Karen Jones, Head of FICC Technical Analysis at Commerzbank. The expert also noted that a close below 0.9147 would then expose 0.85590 ahead of 0.8068.
AUD/USD relevant levels
At the moment the pair is retreating 1.31% at 0.9157 with the immediate support at 0.9099 (low Sep.8 2010) followed by 0.9092 (low Sep.7 2010) and finally 0.9055 (low Sep.2 2010). On the upside, a break above 0.9148 (low Jun.24 2013) would target 0.9197 (low Jun.25) en route to 0.9236 (low Jun.26).
AUD/USD posed for deeper pullbacks
After dipping to the boundaries of 0.9130 the pair found some buying interest despite the risk aversion continues to swell amongst traders. “The short term rally in AUD/USD has scope to re-challenge the .9435 resistance line, but is not expected to sustain a move much beyond .9490 (23.6% retracement of sell off) prior to another leg lower”, commented Karen Jones, Head of FICC Technical Analysis at Commerzbank. The expert also noted that a close below 0.9147 would then expose 0.85590 ahead of 0.8068.
AUD/USD relevant levels
At the moment the pair is retreating 1.31% at 0.9157 with the immediate support at 0.9099 (low Sep.8 2010) followed by 0.9092 (low Sep.7 2010) and finally 0.9055 (low Sep.2 2010). On the upside, a break above 0.9148 (low Jun.24 2013) would target 0.9197 (low Jun.25) en route to 0.9236 (low Jun.26).