27 Dec 2013
AUD/USD breaks down 0.8875
FXstreet.com (San Francisco) - The Aussie is extending its bearishness against the US Dollar and after declining 55 pips on Friday from 0.8925, the AUD/USD broke below 0.8875 and currently it is trading at 0.8865.
Currently, the AUD/USD is trading at 0.8870, 0.31% negative on the day. The short term perspective remains slightly bearish according to the FXstreet.com trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
The AUD/USD would face support at 0.8855, 0.8840 and 0.8820. On the upside, resistances are now at 0.8875, 0.8900 and 0.8925.
According to ForexCrunch analyst Yohay Elam: "The Aussie managed to find a bottom after the tapering but stands on shaky ground."
Currently, the AUD/USD is trading at 0.8870, 0.31% negative on the day. The short term perspective remains slightly bearish according to the FXstreet.com trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
The AUD/USD would face support at 0.8855, 0.8840 and 0.8820. On the upside, resistances are now at 0.8875, 0.8900 and 0.8925.
According to ForexCrunch analyst Yohay Elam: "The Aussie managed to find a bottom after the tapering but stands on shaky ground."