10 Jul 2013
Aussie dips below 0.9150 USD on bad Chinese trade data
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last trading at 0.9142 off session highs at 0.9187 after China released a -3.1% decrease in exports year on year for the month of June
AUD/USD strong resistance at 0.9260
According to FX Charts analyst Jim Langlands, “As far as AUDUSD is concerned, the channel of the last couple of months is still guiding the price action, the top of which is now at 0.9260 and if seen should be strong resistance. A break would lead to 0.9300 and possibly to the 27 June high at 0.9344. On the downside, there is minor support at 0.9140 and below 0.9100, – which looks unlikely at present.”
AUD/USD key technical levels
Immediate support to the downside for AUD/USD lies at June 24 lows 0.9146, followed by July 01 lows at 0.9106, and recent session lows at 0.9126.. To the upside, closest resistance shows at NY session weekly highs 0.9199, followed by July 01 highs at 0.9253, and June 24 highs at 0.9297.
AUD/USD strong resistance at 0.9260
According to FX Charts analyst Jim Langlands, “As far as AUDUSD is concerned, the channel of the last couple of months is still guiding the price action, the top of which is now at 0.9260 and if seen should be strong resistance. A break would lead to 0.9300 and possibly to the 27 June high at 0.9344. On the downside, there is minor support at 0.9140 and below 0.9100, – which looks unlikely at present.”
AUD/USD key technical levels
Immediate support to the downside for AUD/USD lies at June 24 lows 0.9146, followed by July 01 lows at 0.9106, and recent session lows at 0.9126.. To the upside, closest resistance shows at NY session weekly highs 0.9199, followed by July 01 highs at 0.9253, and June 24 highs at 0.9297.