by Wed, 23 Jun 2010 03:45:00 +0200
Forex: AUD/USD tests support at 0.8700
FXstreet.com (Córdoba) - The Australian dollar fell sharply against the Greenback on Tuesday along with markets' optimism. AUD/USD dropped around 100 pips since mid American session to set a fresh weekly low at 0.8688 (June 17th high).
The pair has finally filled the weekly opening gap and is currently trading around last week levels, close to 0.8700, 0.18% below its Wednesday's opening price.
"With hourly indicators already exhausted to the downside, pointing for some upside corrective movement ahead; still, pair needs to regain 0.8750/60 resistance area, to confirm a recovery, while again under 0.8700, chances are of further falls for current Asian session", said Valeria Bednarik, analyst at FXstreet.com.
Support levels: 0.8700 8.8650 0.8610. Resistance levels: 0.8750 0.8790 0.8830.
| Technical Analysis (2010-06-23 01:38 GMT) | |
|---|---|
AUD/USD 0.8705/0.8708 - O: 0.8699 H: 0.8707 L: 0.8688 C: 0.8704 | |
| Trend | R3: 0.8752 |
 | R2: 0.8730 |
| R1: 0.8708 | |
| S1: 0.8635 | |
| S2: 0.8657 | |
| S3: 0.8678 | |
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