13 Sep 2013
AUD/USD extends the decline, around 0.9240
FXstreet.com (Edinburgh) -It seems that happy days are over for the Aussie dollar, with the AUD/USD retreating for the third consecutive session around 0.9240 on Friday.
AUD/USD punished by data
Increased risk appetite from China and Syria lifted the pair beyond 0.9360 during the first half of the week. Miserable employment data from the Australian economy on Thursday plus a recent pick up of risk aversion continue to weigh on the pair, retracing the previous advance. Strategists G.Yu and G.Berry at the Swiss lender UBS keep a neutral tone on the pair, arguing, “Support focus is at 0.9178, a break below which would extend the weakness to 0.9069. Resistance is at 0.9354 ahead of 0.9510”.
AUD/USD key levels
The pair is now losing 0.37% at 0.9236 with the next support at 0.9227 (low Sep.12) ahead of 0.9216 (low Sep.10) and then 0.9167 (low Sep.9). On the upside, a break above 0.9320 (daily cloud top) would expose 0.9355 (high Sep.11) and finally 0.9431 (61.8% of 0.9792-0.8848).
AUD/USD punished by data
Increased risk appetite from China and Syria lifted the pair beyond 0.9360 during the first half of the week. Miserable employment data from the Australian economy on Thursday plus a recent pick up of risk aversion continue to weigh on the pair, retracing the previous advance. Strategists G.Yu and G.Berry at the Swiss lender UBS keep a neutral tone on the pair, arguing, “Support focus is at 0.9178, a break below which would extend the weakness to 0.9069. Resistance is at 0.9354 ahead of 0.9510”.
AUD/USD key levels
The pair is now losing 0.37% at 0.9236 with the next support at 0.9227 (low Sep.12) ahead of 0.9216 (low Sep.10) and then 0.9167 (low Sep.9). On the upside, a break above 0.9320 (daily cloud top) would expose 0.9355 (high Sep.11) and finally 0.9431 (61.8% of 0.9792-0.8848).