24 Oct 2013
AUD/USD breaks below 0.9600
FXstreet.com (Córdoba) - The AUD/USD slipped to fresh daily lows at the beginning of the American session after data showed US jobless claims fell less than anticipated last week, while August trade deficit widened in August.
US initial jobless claims fell to 350K in the week ending Oct 19 versus 380K expected. The AUD/USD broke below the 0.9600/05 support area and stretched to a 1-week low of 0.9585 so far. At time of writing, AUD/USD is trading at the 0.9595 zone, recording a 0.2% loss on the day.
Aussie weighed by China woes
The Aussie remains under pressure Thursday despite stronger-than-expected Chinese HSBC PMI amid concerns about reports of a large write-off of bad loans at major Chinese banks and a spike in short-term rates.
AUD/USD technical levels
As for technical levels, next supports are seen at 0.9526 (Oct 17 low) and then 0.9500/0.9498 (psychological level/Oct 16 low). On the other hand, resistances could be found at 0.9670 (daily high) and 0.9700 (psychological level) ahead of 0.9712 (50% of 1.0581-0.8847).
US initial jobless claims fell to 350K in the week ending Oct 19 versus 380K expected. The AUD/USD broke below the 0.9600/05 support area and stretched to a 1-week low of 0.9585 so far. At time of writing, AUD/USD is trading at the 0.9595 zone, recording a 0.2% loss on the day.
Aussie weighed by China woes
The Aussie remains under pressure Thursday despite stronger-than-expected Chinese HSBC PMI amid concerns about reports of a large write-off of bad loans at major Chinese banks and a spike in short-term rates.
AUD/USD technical levels
As for technical levels, next supports are seen at 0.9526 (Oct 17 low) and then 0.9500/0.9498 (psychological level/Oct 16 low). On the other hand, resistances could be found at 0.9670 (daily high) and 0.9700 (psychological level) ahead of 0.9712 (50% of 1.0581-0.8847).