OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/USD under pressure below 0.8900

FXStreet (Córdoba) - The bearish pressure over the Australian dollar has intensified after AUD/USD broke below the 0.8900 mark, moving in tandem with commodities and stocks that trade heavy across the board.

AUD/USD pierced below 0.8900 during the European session and slid to its lowest level in seven months before pausing at the 76.4% retracement of the 0.8660 - 0.9504 rise at 0.8857. At time of writing, AUD/USD is trading at 0.8860, recording a 0.79% loss on Monday.

AUD/USD technical levels

As for technical levels, AUD/USD could find next supports at 0.8857 (76.4% Fibo of 0.8660-0.9504), and 0.8820 (Dec 18 2013 low) ahead of 0.8800 (psychological level). On the other hand, resistances are now seen at 0.8948 (intraday high), 0.9000 (Sep 19 high/psychological level) and 0.9038 (10-day SMA).

ECB's Draghi: ABS market should grow as a result of central bank's intervention

The ECB head continues explaining the significance of the latest package of measures, saying that the September and December TLTRO operations should be assessed together.
Read more Previous

ECB's Draghi: Ready to implement additional measures if necessary

The ECB president assures that the Governing Council is ready to use additional unconventional monetary tools to support the European economy, should the need arise.
Read more Next
Start livechat