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7 Jul 2014
AUD/USD dropping out of short-term channel
FXStreet (Guatemala) - AUD/USD is trading at 0.9345, down -0.22% on the day, having posted a daily high at 0.9365 and low at 0.9344.
AUD/USD has dropped below the short term channels support in a relatively significant drop of 20 pips on an otherwise quiet start to the week. Reflecting back on the recent downside pressures, the support that now stands out again with the supporting trendline now broken, if indeed pressures will persist, is 0.9220. This level has repeatedly been a backstop for the bulls on attempts on the offer over May and June to test the downside.
AUD/USD Levels
Current price is 0.9346, with resistance ahead at 0.9347 (Weekly Low), 0.9348 (Daily Classic S1), 0.9358 (Hourly 20 EMA), 0.9360 (Daily Classic PP) and 0.9365 (Daily Open). Next support to the downside can be found at 0.9344 (Daily Low), 0.9343 (Yesterday's Low), 0.9334 (Monthly Low), 0.9331 (Daily Classic S2) and 0.9319 (Daily Classic S3).
AUD/USD has dropped below the short term channels support in a relatively significant drop of 20 pips on an otherwise quiet start to the week. Reflecting back on the recent downside pressures, the support that now stands out again with the supporting trendline now broken, if indeed pressures will persist, is 0.9220. This level has repeatedly been a backstop for the bulls on attempts on the offer over May and June to test the downside.
AUD/USD Levels
Current price is 0.9346, with resistance ahead at 0.9347 (Weekly Low), 0.9348 (Daily Classic S1), 0.9358 (Hourly 20 EMA), 0.9360 (Daily Classic PP) and 0.9365 (Daily Open). Next support to the downside can be found at 0.9344 (Daily Low), 0.9343 (Yesterday's Low), 0.9334 (Monthly Low), 0.9331 (Daily Classic S2) and 0.9319 (Daily Classic S3).