21 Aug 2013
AUD/USD intensifies the decline
FXstreet.com (Edinburgh) -The selling interest is gathering steam around the Aussie dollar, with the AUD/USD surrendering part of the early August’s advance on Wednesday.
AUD/USD hurt by sell-off
The sharp sell-off in the high-beta and comm-bloc currencies seems to have taken a breather today, with the pair stabilizing in the boundaries of 0.9030 after being once again rejected from August peaks in the boundaries of 0.9230. Data-wise, the Leading Index sponsored by Westpac came in flat on a monthly basis during June, down from May’s 0.2%. Strategists at UBS remain bearish on the pair, adding, “Initial support focus is at 0.8995, a break below which would be negative, triggering a deeper sell-off to 0.8848 and then 0.8545. Resistance is at 0.9133 ahead of 0.9233”.
AUD/USD key levels
At the moment the pair is losing 0.43% at 0.9034 with the immediate support at 0.9026 (low Aug.20) ahead of 0.8972 (low Aug.8) and then 0.8944 (high Aug.5). On the flip side, a break above 0.9119 (MA10d) would bring 0.9187 (MA50d) and finally 0.9200 (psychological level).
AUD/USD hurt by sell-off
The sharp sell-off in the high-beta and comm-bloc currencies seems to have taken a breather today, with the pair stabilizing in the boundaries of 0.9030 after being once again rejected from August peaks in the boundaries of 0.9230. Data-wise, the Leading Index sponsored by Westpac came in flat on a monthly basis during June, down from May’s 0.2%. Strategists at UBS remain bearish on the pair, adding, “Initial support focus is at 0.8995, a break below which would be negative, triggering a deeper sell-off to 0.8848 and then 0.8545. Resistance is at 0.9133 ahead of 0.9233”.
AUD/USD key levels
At the moment the pair is losing 0.43% at 0.9034 with the immediate support at 0.9026 (low Aug.20) ahead of 0.8972 (low Aug.8) and then 0.8944 (high Aug.5). On the flip side, a break above 0.9119 (MA10d) would bring 0.9187 (MA50d) and finally 0.9200 (psychological level).