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AUD/USD hits fresh 6-month lows

FXStreet (Córdoba) - AUD/USD extended its decline at the beginning of the European session and printed its lowest level since early March under renewed pressure following a short-lived correction seen Friday.

AUD/USD touched a fresh 6-month low of 0.8904, moving lower in tandem with commodities and stocks. However, the Aussie has managed to hold above the 0.8900 level, currently trading at 0.8913, 0.18% below its opening price.

AUD/USD levels to watch

If AUD/USD breaks below 0.8900 (psychological level), the selloff could target 0.8890 (March 3 low) ahead of 0.8820 (Dec 18 2013 low). On the flip side, resistances are now seen at 0.8948 (intraday high), 0.9000 (Sep 19 high/psychological level) and 0.9038 (10-day SMA).

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