15 Jul 2014
AUD/USD drops to lows near 0.9370
FXStreet (Edinburgh) - The Aussie dollar is now suffering the bout of risk aversion, dragging the AUD/USD to fresh lows in the proximity of 0.9370.
AUD/USD softer despite RBA
The offered tone is now prevailing around the AUD despite today’s RBA minutes left no room for surprises, with spot coming lower from session peaks beyond 0.9400 the figure posted overnight. There are no more relevant releases in Oz ahead in the week, although Yellen’s testimony today might bring in bouts of volatility via the greenback. “While the outlook remains mixed for today, positive undertone could lead to a move towards 0.9420/25 first before pulling back. Only a break below 0.9360 would indicate the start of a stronger down-move towards 0.9330”, noted Quek Ser Leang, Market Strategist at UOB Group.
AUD/USD key levels
As of writing the pair is losing 0.24% at 0.9370 with the next support at 0.9361 (low Jul.10) ahead of 0.9354 (50-d MA) and finally 0.9342 (low Jul.7). On the upside, a breakout of 0.9459 (high Jul.10) would open the door to 0.9499 (high Jul.2) and then 0.9505 (high Jul.1).
AUD/USD softer despite RBA
The offered tone is now prevailing around the AUD despite today’s RBA minutes left no room for surprises, with spot coming lower from session peaks beyond 0.9400 the figure posted overnight. There are no more relevant releases in Oz ahead in the week, although Yellen’s testimony today might bring in bouts of volatility via the greenback. “While the outlook remains mixed for today, positive undertone could lead to a move towards 0.9420/25 first before pulling back. Only a break below 0.9360 would indicate the start of a stronger down-move towards 0.9330”, noted Quek Ser Leang, Market Strategist at UOB Group.
AUD/USD key levels
As of writing the pair is losing 0.24% at 0.9370 with the next support at 0.9361 (low Jul.10) ahead of 0.9354 (50-d MA) and finally 0.9342 (low Jul.7). On the upside, a breakout of 0.9459 (high Jul.10) would open the door to 0.9499 (high Jul.2) and then 0.9505 (high Jul.1).