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AUD/USD reveals major break down points

FXStreet (Guatemala) - AUD/USD is trading at 0.9264, up 0.02% on the day, having posted a daily high at 0.9268 and low at 0.9260.

AUD/USD has been consolidating after coming under increasing downside pressure since 0.9480 in the last week of July. Karen Jones, chief analyst at Commerzbank explained that she looks for losses to the 0.9203/0.9182 May low and 200 day ma. “We also find the 55 week ma in this vicinity at .9201 and the 32.8% retracement at 0.9182. These represent major break down points short term and we suspect that they will hold the initial test”.

AUD/USD Levels

Current price is 0.9264, with resistance ahead at 0.9268 (Hourly 20 EMA) and 0.9277 (Daily Open). Next support to the downside can be found at 0.9246 (Daily Classic S1), 0.9218 (Weekly Classic S1) and 0.9217 (Daily Classic S2).

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