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11 Mar 2014
AUD/USD drops to 0.9010
FXStreet (Edinburgh) - The Aussie dollar is now facing renewed selling interest, dragging the AUD/USD to the area of 0.9020/15.
AUD/USD capped at 0.9050
The pair remains in the positive ground however, following the risk trends and leaving behind poor Chinese data over the weekend and soft confidence releases from today’s NAB indices. “The close below $0.9080, which corresponds to both the 100-day moving average and the minimum retracement objective of the Aussie's slide since last October, warns of additional near-term losses. There is potential from a technical point of view back into the $0.9015-40 range. On the upside, the $0.9200 is an important psychological level and coincides with the 50% retracement objective of the slide”.
AUD/USD key levels
The pair is now losing 0.09% at 0.9013 with the next resistance at 0.9064 (high Mar.19) followed by 0.9135 (high Mar.7) and then 0.9152 (high Dec.11). On the flip side, a breakdown of 0.9012 (low Mar.10) would open the door to 0.8973 (low Mar.6) and finally 0.8934 (low Mar.5).
AUD/USD capped at 0.9050
The pair remains in the positive ground however, following the risk trends and leaving behind poor Chinese data over the weekend and soft confidence releases from today’s NAB indices. “The close below $0.9080, which corresponds to both the 100-day moving average and the minimum retracement objective of the Aussie's slide since last October, warns of additional near-term losses. There is potential from a technical point of view back into the $0.9015-40 range. On the upside, the $0.9200 is an important psychological level and coincides with the 50% retracement objective of the slide”.
AUD/USD key levels
The pair is now losing 0.09% at 0.9013 with the next resistance at 0.9064 (high Mar.19) followed by 0.9135 (high Mar.7) and then 0.9152 (high Dec.11). On the flip side, a breakdown of 0.9012 (low Mar.10) would open the door to 0.8973 (low Mar.6) and finally 0.8934 (low Mar.5).