28 Jun 2013
AUD/USD setting fresh lows after rapid decline
FXstreet.com (New York) - The AUD/USD foreign exchange rate is facing an intraday cataclysm, establishing fresh lows after falling below the 0.9200 barrier during US trading.
AUD/USD erases weekly gains
In spite of the rapid decline of the AUD/USD, the pair is now trading at just 0.9132, down a sizable -1.57% Friday. Presently, the pair is now trading at 0.9439 in these moments. According to Gareth Berry, a Research Analyst at UBS, “With the MACD below its zero line, we expect the resistance at 0.9407 to hold on closing basis. Support was originally at 0.9143 – a closing break below this will trigger deeper sell-off, suggesting a bearish outlook.”
AUD/USD maintains negativity below 0.9360
“The AUD/USD hasn't got the ability to confirm an evident upside trend as it trades with a downside bias, influenced by the bearish price channel and LRI 34 negativity. Trading below 0.9360 maintains the downtrend valid throughout the U.S. Session.” notes the TD Securities Team.
AUD/USD erases weekly gains
In spite of the rapid decline of the AUD/USD, the pair is now trading at just 0.9132, down a sizable -1.57% Friday. Presently, the pair is now trading at 0.9439 in these moments. According to Gareth Berry, a Research Analyst at UBS, “With the MACD below its zero line, we expect the resistance at 0.9407 to hold on closing basis. Support was originally at 0.9143 – a closing break below this will trigger deeper sell-off, suggesting a bearish outlook.”
AUD/USD maintains negativity below 0.9360
“The AUD/USD hasn't got the ability to confirm an evident upside trend as it trades with a downside bias, influenced by the bearish price channel and LRI 34 negativity. Trading below 0.9360 maintains the downtrend valid throughout the U.S. Session.” notes the TD Securities Team.