28 Jun 2013
AUD/USD stalls the bleeding above 0.9200
FXstreet.com (Barcelona) - The Aussie is last trading at 0.9238 USD off recent session lows at 0.9214, following another massive sell-off in Gold that has sent the yellow metal to fresh near 3-year lows at $1180. The AUD/USD has been sold since the early start in Asia-Pacific from around 0.9285 highs.
“The AUD/USD is breaking below a short term ascendant trend line, having failed to sustain gains above the 0.9300 area,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “it will be hard for Aussie to develop an upward momentum. The pair is about to break even for the week, while still deeply in the red year to date, down more than -11%.
Bednarik spots support levels at: 0.9230 and 0.9190, while resistance levels at: 0.9350, 0.9380 and 0.9410.
“The AUD/USD is breaking below a short term ascendant trend line, having failed to sustain gains above the 0.9300 area,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “it will be hard for Aussie to develop an upward momentum. The pair is about to break even for the week, while still deeply in the red year to date, down more than -11%.
Bednarik spots support levels at: 0.9230 and 0.9190, while resistance levels at: 0.9350, 0.9380 and 0.9410.