25 Jul 2013
AUD/USD resuming the downside in early Asia
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last trading near session lows at 0.9150, off recent session highs at 0.9177, after it has managed to stall the massive fall following yesterday's worse than expected Chinese data around NY session fresh 7-day lows at 0.9130.
AUD/USD short term bearish view favored
“Not a good day for Aussie,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “The hourly chart shows indicators aiming for an upward correction, heading higher still in oversold territory, while 20 SMA maintains a strong bearish tone well above current price. In the 4 hours chart indicators crossed their midlines to the downside, favoring the shorter term bearish view.”
AUD/USD key technical levels
Bednarik spots support levels at: 0.9135, 0.9100 and 0.9070, while resistance levels at: 0.9200, 0.9250 and 0.9310.
AUD/USD short term bearish view favored
“Not a good day for Aussie,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “The hourly chart shows indicators aiming for an upward correction, heading higher still in oversold territory, while 20 SMA maintains a strong bearish tone well above current price. In the 4 hours chart indicators crossed their midlines to the downside, favoring the shorter term bearish view.”
AUD/USD key technical levels
Bednarik spots support levels at: 0.9135, 0.9100 and 0.9070, while resistance levels at: 0.9200, 0.9250 and 0.9310.