21 Nov 2013
AUD/USD hits 2-month low
FXstreet.com (Córdoba) - The AUD/USD extended losses into a second day Thursday and dipped below the 0.9300 mark weighed by RBA Stevens' speech, which mentioned currency intervention as a tool to depreciate the AUD.
AUD/USD weighed by Stevens
Stevens has been saying for some time that a strong AUD might be a burden on the economy and today he talked down the Aussie by highlighting the possibility of an intervention. The AUD/USD broke below the 100-day SMA at 0.9275 and fell to a fresh 2-month low of 0.9256 in recent dealings. At time of writing, the AUD/USD is trading at the 0.9265 area, recording a 0.8% gain on the day.
AUD/USD levels to watch
If the AUD/USD breaks decisively below 0.9256 (daily low), next supports could be found at 0.9223 (Sep 13 low) and 0.9200 (psychological level). On the other hand, immediate resistances are now seen at the 0.9275/0.9300 (100-day SMA/psychological level) and 0.9333 (daily high).
AUD/USD weighed by Stevens
Stevens has been saying for some time that a strong AUD might be a burden on the economy and today he talked down the Aussie by highlighting the possibility of an intervention. The AUD/USD broke below the 100-day SMA at 0.9275 and fell to a fresh 2-month low of 0.9256 in recent dealings. At time of writing, the AUD/USD is trading at the 0.9265 area, recording a 0.8% gain on the day.
AUD/USD levels to watch
If the AUD/USD breaks decisively below 0.9256 (daily low), next supports could be found at 0.9223 (Sep 13 low) and 0.9200 (psychological level). On the other hand, immediate resistances are now seen at the 0.9275/0.9300 (100-day SMA/psychological level) and 0.9333 (daily high).