31 Jul 2013
AUD/USD falls to fresh 3-year lows after US GDP
FXstreet.com (Córdoba) - The AUD/USD broke below the 0.90 hurdle and extended losses to a fresh 3-year low after data showed the US economy grew more than expected in the second quarter, boosting the greenback across the board.
AUD/USD breaks below 0.9000
The AUD/USD came under renews pressure and broke below the 0.9000/0.8990 zone, triggering stops, to hit its weakest since August 2010 at 0.8946 in recent dealings. The pair has managed to bounce slightly and it is currently trading at the 0.8970 region, still 1.0% below its opening price.
AUD/USD under pressure
“The bearish trend resumed earlier this week, when RBA governor Glenn Stevens talked about the mining slowdown in the country, and left doors open for further rates cuts”, says Valeria Bednarik, chief analyst at FXstreet.com. “0.9000 will now be the immediate resistance and approaches to that level should be consider selling opportunities. Above we have 0.9070. Supports now come at 0.8945, 0.8900 and 0.8870 for today”.
AUD/USD breaks below 0.9000
The AUD/USD came under renews pressure and broke below the 0.9000/0.8990 zone, triggering stops, to hit its weakest since August 2010 at 0.8946 in recent dealings. The pair has managed to bounce slightly and it is currently trading at the 0.8970 region, still 1.0% below its opening price.
AUD/USD under pressure
“The bearish trend resumed earlier this week, when RBA governor Glenn Stevens talked about the mining slowdown in the country, and left doors open for further rates cuts”, says Valeria Bednarik, chief analyst at FXstreet.com. “0.9000 will now be the immediate resistance and approaches to that level should be consider selling opportunities. Above we have 0.9070. Supports now come at 0.8945, 0.8900 and 0.8870 for today”.