18 Jul 2014
AUD/USD absorbs bids below 0.9350
FXStreet (Bali) - As Asian accounts start to digest the tragic news of the Malaysian plane shot down and Israel ground invasion to Gaza, currencies tied to risk aversion sentiment such as the AUD and NZD keep making new lows ahead of the Tokyo open.
With 0.9350 in AUD/USD finally broken, Jim Langlands, Founder at FXCharts, notes that we should now "look for a run towards 0.9320 (61.8% of 0.9220/0.9505/18 June low) and then 0.9300, below 0.9300 would see a run towards 0.9275 (76.4%) and as we said before, if the Aud breaks under 0.9250, then the downside could really accelerate, but at this stage is considered unlikely."
With 0.9350 in AUD/USD finally broken, Jim Langlands, Founder at FXCharts, notes that we should now "look for a run towards 0.9320 (61.8% of 0.9220/0.9505/18 June low) and then 0.9300, below 0.9300 would see a run towards 0.9275 (76.4%) and as we said before, if the Aud breaks under 0.9250, then the downside could really accelerate, but at this stage is considered unlikely."