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13 Aug 2013
AUD/USD hits 4-day low sub-0.9100
FXstreet.com (Córdoba) - The AUD/USD resumed the downside after the latest recovery attempt found resistance at the 0.9150 area.
AUD/USD weighed by sentiment
AUD/USD intensified the selloff at the beginning of the New York session and printed a fresh 4-day low of 0.9085 in recent dealings, as market sentiment deteriorated. However, the AUD/USD didn’t stay below 0.9100 for long as buyers quickly reappeared.
AUD/USD with key support at 0.9070
At time of writing, AUD/USD is trading at the 0.9100 zone, where it is 0.5% below its opening price. “The hourly chart shows price capped below a strongly bearish 20 SMA as indicators head south in negative territory, while in bigger time frames, technical readings also turned bearish as price approaches 0.9070 key support: a price acceleration below will likely support another leg lower, eyeing the 0.9000 price zone”, says Valeria Bednarik, chief analyst at FXstreet.com.
AUD/USD weighed by sentiment
AUD/USD intensified the selloff at the beginning of the New York session and printed a fresh 4-day low of 0.9085 in recent dealings, as market sentiment deteriorated. However, the AUD/USD didn’t stay below 0.9100 for long as buyers quickly reappeared.
AUD/USD with key support at 0.9070
At time of writing, AUD/USD is trading at the 0.9100 zone, where it is 0.5% below its opening price. “The hourly chart shows price capped below a strongly bearish 20 SMA as indicators head south in negative territory, while in bigger time frames, technical readings also turned bearish as price approaches 0.9070 key support: a price acceleration below will likely support another leg lower, eyeing the 0.9000 price zone”, says Valeria Bednarik, chief analyst at FXstreet.com.