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5 Aug 2013
AUD/USD closer to fresh 3-year lows
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last trading at 0.8859, off recent fresh session and almost 3-year lows at 0.8847 printed on the back of lower than expected Australian retail trade numbers, with domestic markets closed over holiday.
AUD/USD bearish trend rules
“The pair starts the week with a pretty neutral tone in its hourly chart, as indicators hover around their midlines and price stands right along with its 20 SMA,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “In the 4 hours chart indicators correct extreme oversold readings but hold in negative territory, while 20 SMA heads strongly south currently around 0.8950. Overall, the bearish trend rules, and spikes higher should be seen as selling opportunities up to 0.9000 figure in the short term.”
AUD/USD key technical levels
Bednarik finds support levels at: 0.8870, 0.8835 and 0.8800, while resistance levels: 0.8950, 0.9090 and 0.9035.
AUD/USD bearish trend rules
“The pair starts the week with a pretty neutral tone in its hourly chart, as indicators hover around their midlines and price stands right along with its 20 SMA,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “In the 4 hours chart indicators correct extreme oversold readings but hold in negative territory, while 20 SMA heads strongly south currently around 0.8950. Overall, the bearish trend rules, and spikes higher should be seen as selling opportunities up to 0.9000 figure in the short term.”
AUD/USD key technical levels
Bednarik finds support levels at: 0.8870, 0.8835 and 0.8800, while resistance levels: 0.8950, 0.9090 and 0.9035.