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31 Jul 2014
AUD/USD ends below 0.9300
FXStreet (Córdoba) - The AUD/USD closed Thursday trading barely below 0.9300 and posted the lowest daily close since June 4. Price bottomed during the European session at 0.9278 and then bounced slightly to the upside but the recovery found resistance below 0.9310.
The Australian dollar fell across the board on Thursday weakened by economic data from Australia and also by risk aversion. The AUD/USD fell for the third day in a row.
AUD/USD technical outlook
“The pair enters Asian session maintaining the short term bearish tone, having been unable to establish back above the 0.9300 level and with the hourly chart showing a clear bearish tone”, says Valeria Bednarik, Chief Analyst at FXStreet.
The 4-hour chart shows indicators losing their downward potential in oversold levels notes Bednarik, “but the overall picture is still weak: a break below 0.9260 strong static midterm support, can see the pair extending its decline below the 0.9200 figure before the week is over”.
The Australian dollar fell across the board on Thursday weakened by economic data from Australia and also by risk aversion. The AUD/USD fell for the third day in a row.
AUD/USD technical outlook
“The pair enters Asian session maintaining the short term bearish tone, having been unable to establish back above the 0.9300 level and with the hourly chart showing a clear bearish tone”, says Valeria Bednarik, Chief Analyst at FXStreet.
The 4-hour chart shows indicators losing their downward potential in oversold levels notes Bednarik, “but the overall picture is still weak: a break below 0.9260 strong static midterm support, can see the pair extending its decline below the 0.9200 figure before the week is over”.