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20 May 2014
AUD/USD unable to shake off bearish pressure
FXStreet (Córdoba) - The AUD/USD continues to suffer Tuesday after a combination of developments put the Aussie on the defensive.
The AUD has been unable to shake off the bearish pressure triggered by rumors Australia could lose its AAA rating by S&P, falling iron ore prices and dovish comments from the RBA, and is extending losses during the European session.
The AUD/USD pierced below the 0.9265 area, where the 50-day SMA made an attempt to contain the downside, and hit a 2-week low of 0.9256 in recent dealings.
AUD/USD technical levels
At time of writing, the AUD/USD is trading at the 0.9260 area, recording a 0.67% loss on the day. If the pair breaks below 0.9256, next supports are seen at 0.9227 (Apr 29 low) and 0.9200 (psychological level/May 2 low). On the other hand, bounces could find resistances at 0.9335 (May 20 high), 0.9346 (10-day SMA) and 0.9373 (May 19 high).
The AUD has been unable to shake off the bearish pressure triggered by rumors Australia could lose its AAA rating by S&P, falling iron ore prices and dovish comments from the RBA, and is extending losses during the European session.
The AUD/USD pierced below the 0.9265 area, where the 50-day SMA made an attempt to contain the downside, and hit a 2-week low of 0.9256 in recent dealings.
AUD/USD technical levels
At time of writing, the AUD/USD is trading at the 0.9260 area, recording a 0.67% loss on the day. If the pair breaks below 0.9256, next supports are seen at 0.9227 (Apr 29 low) and 0.9200 (psychological level/May 2 low). On the other hand, bounces could find resistances at 0.9335 (May 20 high), 0.9346 (10-day SMA) and 0.9373 (May 19 high).