Back
31 Oct 2013
AUD/USD turns negative
FXstreet.com (Córdoba) - The AUD/USD was strongly rejected from above 0.9500 and retraced gains during the American session as the greenback strengthened in the wake of strong Chicago PMI.
After finding resistance at the 0.9525/30 region, the Aussie surrendered to broad USD's strength and dropped over 70 pips during the last hours before finding support at 0.9452. At time of writing, AUD/USD is trading at the 0.9465 area, now 0.2% below its opening price.
AUD/USD levels to watch
In terms of technical levels, if AUD/USD breaks above 0.9525/30, next resistances could be found at 0.9590 (10-day SMA) and 0.9622 (Oct 28 high). On the flip side, supports are now seen at 0.9475 (intraday support) and 0.9440 (Oct 30 low).
After finding resistance at the 0.9525/30 region, the Aussie surrendered to broad USD's strength and dropped over 70 pips during the last hours before finding support at 0.9452. At time of writing, AUD/USD is trading at the 0.9465 area, now 0.2% below its opening price.
AUD/USD levels to watch
In terms of technical levels, if AUD/USD breaks above 0.9525/30, next resistances could be found at 0.9590 (10-day SMA) and 0.9622 (Oct 28 high). On the flip side, supports are now seen at 0.9475 (intraday support) and 0.9440 (Oct 30 low).