30 Jul 2013
AUD/USD plummets below 0.91 on RBA Stevens
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last trading at 0.9106, off recent fresh session and 2-week lows at 0.9089 following RBA Stevens comments on next interest rates cuts.
AUD/USD not a surprise if below 0.90
RBA governor Glenn Stevens is currently giving a speech in Sydney saying there is scope for further interest rates cuts given latest inflation data in 2Q, and that the drop in the Aussie makes sense, not being a surprise if it falls more, Bloomberg reported. The Aussie is already more than -12.5% down in last 3 months and year to date, since started the fall from above the 1.02 level back in early May.
AUD/USD key technical levels
Immediate support to the downside for AUD/USD lies at recent session and fresh 2-week lows 0.9089, followed by July 09 lows at 0.9082, and July 08 lows at 0.9041. To the upside, closest resistance shows at current levels as July 01 lows 0.9106, followed by July 25 lows at 0.9126, and July 18 lows at 0.9138.
AUD/USD not a surprise if below 0.90
RBA governor Glenn Stevens is currently giving a speech in Sydney saying there is scope for further interest rates cuts given latest inflation data in 2Q, and that the drop in the Aussie makes sense, not being a surprise if it falls more, Bloomberg reported. The Aussie is already more than -12.5% down in last 3 months and year to date, since started the fall from above the 1.02 level back in early May.
AUD/USD key technical levels
Immediate support to the downside for AUD/USD lies at recent session and fresh 2-week lows 0.9089, followed by July 09 lows at 0.9082, and July 08 lows at 0.9041. To the upside, closest resistance shows at current levels as July 01 lows 0.9106, followed by July 25 lows at 0.9126, and July 18 lows at 0.9138.