24 Jul 2013
AUD/USD finds support at 0.9185
FXstreet.com (Córdoba) - The AUD/USD fell to a marginal new low during the American session as the US dollar strengthened broadly.
AUD/USD dips below 200-hour SMA
The AUD/USD briefly dipped below the 200-hour SMA and hit a fresh 2-day low of 0.9185 before recovering slightly with the latest string of US data having little impact on the pair. At time of writing, AUD/USD is trading around 0.9210, where it records a 0.9% loss on the day.
Bears dominating the AUD/USD
“Australian dollar faded from the 0.9316 high posted against the greenback, on the back of disappointing Chinese data, proving again bears are dominating the pair”, says Valeria Bednarik, chief analyst at FXstreet.com. “The hourly chart presents a strong bearish momentum despite latest price bounce: a break below 0.9180 should see the pair extending its slide down towards 0.9100 area”.
AUD/USD dips below 200-hour SMA
The AUD/USD briefly dipped below the 200-hour SMA and hit a fresh 2-day low of 0.9185 before recovering slightly with the latest string of US data having little impact on the pair. At time of writing, AUD/USD is trading around 0.9210, where it records a 0.9% loss on the day.
Bears dominating the AUD/USD
“Australian dollar faded from the 0.9316 high posted against the greenback, on the back of disappointing Chinese data, proving again bears are dominating the pair”, says Valeria Bednarik, chief analyst at FXstreet.com. “The hourly chart presents a strong bearish momentum despite latest price bounce: a break below 0.9180 should see the pair extending its slide down towards 0.9100 area”.