29 Nov 2013
AUD/USD falls to 0.9055, 3-month lows
FXstreet.com (Chicago) - AUD/USD continues hemorrhage that now adds up to 0.45% losses so far for a total weekly loss of 1.15% shortly after private sector credit results at 3.5% vs. past 3.3%.
AUS/USD Technical Levels
Price action reveals the pair extends the break under the H&S neckline that was broken yesterday. Falling to new lows, 3-month bottoms, the pair manages to bounce from the 0.9056 but remains extremely close to it violating the immediate support. On the downside, 0.9060 (July 15th lows) is broken and the pair is now facing 0.9031 (September 4th lows) ahead of 0.8974 (August 29th highs) while the upside prints resistances at 0.9077 (November 27th lows), 0.9122 (August 20th highs) followed by 0.9186 (September 5th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and navigates below the EMA20.
AUS/USD Technical Levels
Price action reveals the pair extends the break under the H&S neckline that was broken yesterday. Falling to new lows, 3-month bottoms, the pair manages to bounce from the 0.9056 but remains extremely close to it violating the immediate support. On the downside, 0.9060 (July 15th lows) is broken and the pair is now facing 0.9031 (September 4th lows) ahead of 0.8974 (August 29th highs) while the upside prints resistances at 0.9077 (November 27th lows), 0.9122 (August 20th highs) followed by 0.9186 (September 5th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and navigates below the EMA20.