by Wed, 17 Nov 2010 01:57:00 +0100
Forex: AUD/USD still vulnerable to further downside
FXstreet.com (Barcelona) - Risk aversion continues pressuring Aussie, that keeps approaching to key midterm support around 0.9660 area, after breaking below 0.9855, 61.8% retracement of the last bullish run. Current price can be found unchanged at 0.9760 in the early going of the Asian session.
“Having found some support around 0.9720, indicators are slightly higher although price seems limited by 0.9770 price zone, so unless a technical confirmation above it, the downside is still favored” said Valeria Bednarik, Chief Analyst at FXstreet.com.
Support levels: 0.9720 0.9660 0.9610, Resistance levels: 0.9770 0.9810 0.9855
| Technical Analysis (2010-11-17 00:45 GMT) | |
|---|---|
AUD/USD 0.976/0.9766 - O: 1.0015 H: 1.002 L: 1.0008 C: 1.0011 | |
| Trend | R3: 0.9813 |
 | R2: 0.9789 |
| R1: 0.9764 | |
| S1: 0.9713 | |
| S2: 0.9737 | |
| S3: 0.9762 | |
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