25 Jul 2013
AUD/USD crumbles to session lows at 0.9130
FXstreet.com (New York) - The AUD/USD foreign exchange rate has continued its decent Thursday morning, taking a tumble towards fresh lows during Asian trading.
AUD/USD strategic bias
According to Jim Langlands at FX Charts, “The break to the topside looks to have been a false move and given that the 4 hour indicators have turned sharply lower, a medium-term top looks to now be in place.
The charts look a bit mixed and although the 4-hour charts do suggest short-term weakness, the dailies remain supportive, so after the sharp move lower today, some consolidation within the 0.9130/0.9200 area would not surprise. On the downside the other points to watch are now at 0.9120 (61.8% of 0.8998/0.9317) and then 0.9075 (76.4%).”
AUD/USD technical bias
At the time of writing, the AUD/USD is trading negatively, down -0.32% Thursday, having now moved towards the depths of 0.9129. In terms of the technical levels, the AUD/USD will face calculated supports at 0.9123 (July 15 high), ahead of 0.9091 (July 16 low).
AUD/USD strategic bias
According to Jim Langlands at FX Charts, “The break to the topside looks to have been a false move and given that the 4 hour indicators have turned sharply lower, a medium-term top looks to now be in place.
The charts look a bit mixed and although the 4-hour charts do suggest short-term weakness, the dailies remain supportive, so after the sharp move lower today, some consolidation within the 0.9130/0.9200 area would not surprise. On the downside the other points to watch are now at 0.9120 (61.8% of 0.8998/0.9317) and then 0.9075 (76.4%).”
AUD/USD technical bias
At the time of writing, the AUD/USD is trading negatively, down -0.32% Thursday, having now moved towards the depths of 0.9129. In terms of the technical levels, the AUD/USD will face calculated supports at 0.9123 (July 15 high), ahead of 0.9091 (July 16 low).