24 Jun 2014
AUD/USD falls further after Wall Street opening
FXStreet (Córdoba) - The Australian dollar extends its decline to fresh lows sub 0.9400 at the beginning of the American session, weighed by a negative opening in Wall Street.
The AUD/USD stretched a tad lower and printed a fresh low of 0.9380 after the opening bell, erasing completely yesterday’s gains inspired by solid China’s PMI. The pair is currently trading at the 0.9385 zone, recording a 0.37% loss on the day, after reaching a 2-month peak of 0.9444 Monday.
AUD/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet notes that the technical picture is bearish. “A break below 0.9370 should anticipate a continued slide towards this month lows around 0.9320/30”, she said.
In terms of technical levels, Bednarik locates next supports at 0.9370, 0.9330 and 0.9290, while she sees resistances at 0.9420, 0.9460 and 0.9500.
The AUD/USD stretched a tad lower and printed a fresh low of 0.9380 after the opening bell, erasing completely yesterday’s gains inspired by solid China’s PMI. The pair is currently trading at the 0.9385 zone, recording a 0.37% loss on the day, after reaching a 2-month peak of 0.9444 Monday.
AUD/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet notes that the technical picture is bearish. “A break below 0.9370 should anticipate a continued slide towards this month lows around 0.9320/30”, she said.
In terms of technical levels, Bednarik locates next supports at 0.9370, 0.9330 and 0.9290, while she sees resistances at 0.9420, 0.9460 and 0.9500.