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17 Jun 2013
AUD/USD dips to 0.9550
FXstreet.com (Edinburgh) - Renewed weakness surrounding the Aussie dollar is now dragging the AUD/USD below the key support at 0.9600 on Monday.
USD strength weights on AUD/USD
The greenback continues to pick up pace in the European afternoon, adding extra selling pressure to the high-beta currencies. “Prices are attempting a recovery as expected. Initial trend line resistance is at 0.9678, with a break above that eyeing a larger downward-sloping barrier at 0.9911. Near-term support is at 0.9415, the 23.6% Fibonacci expansion, with a push beneath that targeting the 38.2% level at 0.9260”, commented I.Spivak, Currency Analyst at DailyFX.
AUD/USD tech levels
As of writing, the pair is down 0.09% en 0.9553 and a breach of 0.9538 (low Jun.17) would bring the psychological level at 0.9500 and finally 0.9430 (low Jun.13). On the upside, resistance levels align at 0.9655 (high Jun.14) ahead of 0.9665 (high Jun.13) and then 0.9675 (high Jun.6).
USD strength weights on AUD/USD
The greenback continues to pick up pace in the European afternoon, adding extra selling pressure to the high-beta currencies. “Prices are attempting a recovery as expected. Initial trend line resistance is at 0.9678, with a break above that eyeing a larger downward-sloping barrier at 0.9911. Near-term support is at 0.9415, the 23.6% Fibonacci expansion, with a push beneath that targeting the 38.2% level at 0.9260”, commented I.Spivak, Currency Analyst at DailyFX.
AUD/USD tech levels
As of writing, the pair is down 0.09% en 0.9553 and a breach of 0.9538 (low Jun.17) would bring the psychological level at 0.9500 and finally 0.9430 (low Jun.13). On the upside, resistance levels align at 0.9655 (high Jun.14) ahead of 0.9665 (high Jun.13) and then 0.9675 (high Jun.6).