7 Nov 2013
AUD/USD finds support and trims losses
FXstreet.com (Córdoba) - After losing more than 60 pips in the wake of much-weaker-than-expected employment data, the AUD/USD found support and managed to trim losses.
Remains below 0.9500
The AUD/USD bottomed out at 0.9465, roughly the same level it did yesterday, and bounced but the recovery has been shy, leaving the pair below 0.9500. At time of writing, the AUD/USD is trading at the 0.9485 zone, recording a 0.4% loss on the day. However, from a wider view, the pair remains well within its weekly range as investors turn attention to the ECB decision and Friday's US nonfarm payrolls.
AUD/USD technical levels
In terms of technical levels, if AUD/USD breaks below the 0.9465/60 area, next supports are seen at 0.9444 (Nov 4 low) and 0.9420 (Nov 1 low). On the flip side, resistances could be found at 0.9493 (100-hour SMA) and 0.9543 (Nov 6 high).
Remains below 0.9500
The AUD/USD bottomed out at 0.9465, roughly the same level it did yesterday, and bounced but the recovery has been shy, leaving the pair below 0.9500. At time of writing, the AUD/USD is trading at the 0.9485 zone, recording a 0.4% loss on the day. However, from a wider view, the pair remains well within its weekly range as investors turn attention to the ECB decision and Friday's US nonfarm payrolls.
AUD/USD technical levels
In terms of technical levels, if AUD/USD breaks below the 0.9465/60 area, next supports are seen at 0.9444 (Nov 4 low) and 0.9420 (Nov 1 low). On the flip side, resistances could be found at 0.9493 (100-hour SMA) and 0.9543 (Nov 6 high).