16 Jul 2014
AUD/USD bounces off 2-week lows
FXStreet (Córdoba) - The AUD/USD fell to fresh 2-week lows Wednesday, weighed by mild risk aversion after the Fed warned the financial system may be vulnerable and mixed Chinese data.
The AUD/USD slipped to a low of 0.9328 during the Aiana session although it managed to trim losses afterwards, having bounced to the 0.9350 area. At time of writing, the pair is trading at 0.9345, still down 0.26% on the day.
AUD/USD technical outlook
“AUD/USD was slightly softer but more importantly is starting to erode the 55 day ma and July 3rd low at .9349/30”, said Karen Jones, analyst at Commerzbank. “We continue to suspect the market will ease lower this week”.
The AUD/USD slipped to a low of 0.9328 during the Aiana session although it managed to trim losses afterwards, having bounced to the 0.9350 area. At time of writing, the pair is trading at 0.9345, still down 0.26% on the day.
AUD/USD technical outlook
“AUD/USD was slightly softer but more importantly is starting to erode the 55 day ma and July 3rd low at .9349/30”, said Karen Jones, analyst at Commerzbank. “We continue to suspect the market will ease lower this week”.