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AUD/USD bulls keep the faith on 0.90 handle

FXStreet (Guatemala) - AUD/USD is trading at 0.9032, down -0.07% on the day, having posted a daily high at 0.9052 and low at 0.8984.

AUD/USD is so far resilient still on territory on the 0.90 handle while bears tried to break lower again at the mid point earlier on. The pair fell below 0.9000 for the first time in six months overnight, albeit only briefly, when the markets had to digest the poor Chinese data released over the weekend. The industrial production for the month of August read two percentage points below consensus and this hit a widespread of indices including commodities, stocks and EMFX, and of course the AUD/USD. Bulls took the pair through levels on the 0.90 handle but rallies were exhausted at the 0.9050 and 0.9020 has performed as support so far while the bulls keep the faith in the Aussie despite the 400 pip move over the past week.

AUD/USD hourly levels

Current price is 0.9032, with resistance ahead at 0.9038, 0.9052, 0.9060 (Daily Classic PP) and 0.9089 (Daily Classic R1). Next support to the downside can be found at 0.9030, 0.9025 (Hourly 20 EMA), 0.9008 (Daily Classic S1) and 0.8984 (Daily Low).

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