22 Aug 2013
AUD/USD highly vulnerable as fresh lows opened up
FXstreet.com (New York) - The AUD/USD foreign exchange rate collapsed across yesterdays session, now hitting new depths during Asian trading Thursday morning.
At this juncture, the AUD/USD is now navigating the region of 0.8941, presently declining at a rate -0.31% off its opening. Technically speaking, the AUD/USD remains situated above supports at 0.8925 (August 7 low), ahead of 0.8908 (August 6 low), and 0.8883 (August 2 low).
AUD/USD strategic bias
According to Ivan Delgado, Head of Asian Editors at FXstreet.com, “The AUD/USD resolution through 0.8960, level containing the downside post Fed minutes, has seen an impulsive 30+ pips follow through, suggestive that the carnage is likely to continue with few counter trend players to suggest otherwise. The first downside target is seen at 0.8920 - Aug 7 low - followed by 0.8880 - sequence of lows Aug 2/5 - ahead of 0.8850 trend lows. On the upside, 0.8965 represents first area of resistance followed by stronger 0.90 round number.”
At this juncture, the AUD/USD is now navigating the region of 0.8941, presently declining at a rate -0.31% off its opening. Technically speaking, the AUD/USD remains situated above supports at 0.8925 (August 7 low), ahead of 0.8908 (August 6 low), and 0.8883 (August 2 low).
AUD/USD strategic bias
According to Ivan Delgado, Head of Asian Editors at FXstreet.com, “The AUD/USD resolution through 0.8960, level containing the downside post Fed minutes, has seen an impulsive 30+ pips follow through, suggestive that the carnage is likely to continue with few counter trend players to suggest otherwise. The first downside target is seen at 0.8920 - Aug 7 low - followed by 0.8880 - sequence of lows Aug 2/5 - ahead of 0.8850 trend lows. On the upside, 0.8965 represents first area of resistance followed by stronger 0.90 round number.”