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6 May 2013
Forex: AUD/USD hits 4-day low
FXstreet.com (Córdoba) - The Australian dollar extended losses against the greenback and recently hit a fresh daily low, as disappointing Australian data continues to weigh on the currency.
Following a phase of consolidation, the USD gathered steam and dragged AUD/USD below the 1.0240 area to a low of 1.0233. At time of writing, the pair is quoting near lows, where it records a 0.6% loss on Monday.
As for technical levels, on the downside next supports are seen at 1.0220 (low May 2/Apr 23) and 1.0202 (low Mar 11). On the other hand, resistance levels could be found at 1.0260 (10-hour SMA), 1.0300 (psychological level/200-hour SMA) and 1.0330 (low Apr 30).
Following a phase of consolidation, the USD gathered steam and dragged AUD/USD below the 1.0240 area to a low of 1.0233. At time of writing, the pair is quoting near lows, where it records a 0.6% loss on Monday.
As for technical levels, on the downside next supports are seen at 1.0220 (low May 2/Apr 23) and 1.0202 (low Mar 11). On the other hand, resistance levels could be found at 1.0260 (10-hour SMA), 1.0300 (psychological level/200-hour SMA) and 1.0330 (low Apr 30).