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AUD/USD remains pressured below 0.9800

FXstreet.com (Córdoba) - The Australian dollar remains among the worst performers in the FX space. While most crosses consolidate in slim ranges, the AUD/USD dropped to hit yet another low on Friday.

AUD/USD broke below 0.9800 during the Asian session and extended its decline to a fresh 11-month trough of 0.9727 before finding support. At time of writing, the cross is trading around 0.9750, recording a 0.6% loss, having fallen 11 out of the last 13 trading days.

As for technical levels, immediate supports could be found at 0.9727 (daily low) and the 0.9710/00 area (low Jun 5 2012/psychological level). On the other hand, resistances are seen at 0.9830 (daily high) and 0.9880 (100-hour SMA).

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