1 Aug 2013
AUD/USD consolidates below 0.9000
FXstreet.com (Edinburgh) -After dipping to fresh multi-year lows around 0.8930, the AUD/USD managed to pick up pace and trade back to the region of 0.8970 before the opening bell in Europe.
AUD/USD keeps falling
The Aussie dollar is prolonging its sharp decline from April’s peaks around 1.0600, now eroding the advance made in the last two weeks and trading in levels last seen in late August 2010. Mixed results from the final Chinese manufacturing PMI is also collaborating with the bearish sentiment. The RBA Commodity Index SDR also came in softer, contracting 11.8% during July vs. -10.4% in the previous month.
AUD/USD levels to watch
The pair is now retreating 0.12% at 0.8969 with the next support at 0.8933 (low Aug.1) followed by 0.8871 (high Jul.2007) and then 0.8770 (low Aug.2010). On the upside, a breakout of 0.9076 (high Jul.31) would bring 0.9129 (low Jul.25) and then 0.9205 (MA10d).
AUD/USD keeps falling
The Aussie dollar is prolonging its sharp decline from April’s peaks around 1.0600, now eroding the advance made in the last two weeks and trading in levels last seen in late August 2010. Mixed results from the final Chinese manufacturing PMI is also collaborating with the bearish sentiment. The RBA Commodity Index SDR also came in softer, contracting 11.8% during July vs. -10.4% in the previous month.
AUD/USD levels to watch
The pair is now retreating 0.12% at 0.8969 with the next support at 0.8933 (low Aug.1) followed by 0.8871 (high Jul.2007) and then 0.8770 (low Aug.2010). On the upside, a breakout of 0.9076 (high Jul.31) would bring 0.9129 (low Jul.25) and then 0.9205 (MA10d).