27 Sep 2013
AUD/USD, break of 0.9335/40 exposes 0.93 this Friday
FXstreet.com (Barcelona) - There seems to be some chatter in the market blaming the latest fall in the Australian Dollar on a headline carried by Reuters saying "Australi's agriculture department said China has restrited imports of Australian chilled beef."
Whether or not that headline, which seems to have been first made public yesterday, is behind the latest fall in the Aussie, that is not confirmed, yet price action continues to suggest heaviness on the AUD/USD each time it attempts a shallow bounce.
The latest level broken in the Australian Dollar at 0.9335, from a technical perspective, might easily be the last line in the sand drawn by committed buyers before giving up more ground towards next key downside target at 0.9290/0.93.
Whether or not that headline, which seems to have been first made public yesterday, is behind the latest fall in the Aussie, that is not confirmed, yet price action continues to suggest heaviness on the AUD/USD each time it attempts a shallow bounce.
The latest level broken in the Australian Dollar at 0.9335, from a technical perspective, might easily be the last line in the sand drawn by committed buyers before giving up more ground towards next key downside target at 0.9290/0.93.