10 Jun 2013
AUD/USD poking below oct 2011 lows
FXstreet.com (London) - The AUD/USD has paired the lows of October 2011 in a continuation of the pairs relentless down trend.
AUD/USD weaker on China and Positive NFP’s
The week has started off quietly, while we continue to see signs of a US recovery after last weeks positive NFP’s. Other data effecting the pair were Chinese data painting an overall weaker growth for the exporting nation.
Research teams at TD Securities noted that the AUD’s further depreciation managed to poke marginally below the low of October 2011, to a level we haven't seen since September 2010. They said a close below that October low of 0.9397 could signal more softness ahead, although this decline has been almost unchecked since late April.
Levels for AUD/USD
ICN.com analysts suggest that the trading range expected this week is between the key support at 0.9140 and the key resistance 0.9710. Support comes in at 0.9405, 0.9360 until 0.9300. Resistance 0.9480, 0.9540, 0.9580, 0.9600 and 0.9670 as last defence before 0.9710.
AUD/USD weaker on China and Positive NFP’s
The week has started off quietly, while we continue to see signs of a US recovery after last weeks positive NFP’s. Other data effecting the pair were Chinese data painting an overall weaker growth for the exporting nation.
Research teams at TD Securities noted that the AUD’s further depreciation managed to poke marginally below the low of October 2011, to a level we haven't seen since September 2010. They said a close below that October low of 0.9397 could signal more softness ahead, although this decline has been almost unchecked since late April.
Levels for AUD/USD
ICN.com analysts suggest that the trading range expected this week is between the key support at 0.9140 and the key resistance 0.9710. Support comes in at 0.9405, 0.9360 until 0.9300. Resistance 0.9480, 0.9540, 0.9580, 0.9600 and 0.9670 as last defence before 0.9710.