OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: AUD/USD extends the decline below 1.0000

FXstreet.com (Barcelona) - The bearish trend in the Aussie dollar is alive, keeping the demand for the AUD subdued and bellow the parity level on Monday.

“Prices broke support at the bottom of a multi-month range in the 1.0163-81 area, a barrier reinforced by the 38.2% Fibonacci expansion at 1.0137. Sellers are now challenging the 50% level at 0.9986, with a break below that aiming for the 61.8% Fib. at 0.9836. The 1.0137 mark has been recast as near-term resistance”, suggested I.Spivak, Currency Strategist at DailyFX.

As of writing, AUD/USD is losing 0.31% at 0.9970 with the next support at 0.9922 (low Jun.14 2012) ahead of 0.9850 (low Jun.12 2012) and then 0.9827 (76.4% of 0.9581-1.0625).
On the upside, a break above 1.0015 (hourly highs May 13) would expose 1.0055 (hourly high/lows May 10) and finally 1.0096 (high May 10).

Forex Flash: Commodity-based face headwinds in near-term – UBS

UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's commodity-based currencies and outline the technical positions.
Read more Previous

Forex Flash: Credit markets notch solid week despite Friday jitters – Deutsche Bank

There were a few jitters in credit markets on Friday after news that the Manchester-based mutual Co-Operative Bank was downgraded six notches by Moody’s to Ba3 from A3. Moody's flagged a potential capital shortfall arising from further substantial losses on the bank's real-estate exposures.
Read more Next
Start livechat