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AUD/USD mired around 0.8970

FXStreet (Edinburgh) - The Aussie dollar remains unable to gather further traction on Thursday, with the AUD/USD hovering over 0.8970/80.

AUD/USD in multi-month lows

The current USD rally is confining the pair to trade in levels last seen in late February/early March, as markets continue to digest yesterday’s FOMC announcements. Nothing of note in Oz in the data front, only showing that RBA’s FX transactions hit A$381 million in August, down from July’s A$433 million. Quek Ser Leang, Market Strategist at UOB Group, signaled “AUD touched a low of 0.8939 early this morning and with no signs of stabilization yet, expect further down-move towards the next support at 0.8915/20. Strong resistance is at 0.9000”.

AUD/USD relevant levels

As of writing the pair is advancing 0.09% at 0.8969 with the immediate resistance at 0.9000 (psychological mark) ahead of 0.9106 (high Sep.17) and then 0.9113 (high Sep.16). On the downside, a break below 0.8951 (low Sep.17) would expose 0.8923 (low Mar.12) and finally 0.8909 (low Mar.4).

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