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12 Jul 2013
AUD/USD trading at multi-year lows
FXstreet.com (Barcelona) - Following its sustained decline throughout the European session, AUD/USD has continued its march lower and is now trading at multi year lows.
Following the enormous 213 pip climb post FOMC on Wednesday, the pair has gradually given back those gains and was earlier finding support above the 0.9100 level, eyeing a complete 100% retracement of the previous move higher from 0.9092. Spot has surpassed those aims, exploding lower to post a fresh low since September 2010 at 0.9023.
AUD/USD technicals bearish
We can see that both oscillators, Stochastic and RSI have entered oversold territory on an hourly basis. The FXstreet.cm Trend Index is bearish, and the next level of support below is Classic daily S2 at 0.9015, with 0.8912 below-
Following the enormous 213 pip climb post FOMC on Wednesday, the pair has gradually given back those gains and was earlier finding support above the 0.9100 level, eyeing a complete 100% retracement of the previous move higher from 0.9092. Spot has surpassed those aims, exploding lower to post a fresh low since September 2010 at 0.9023.
AUD/USD technicals bearish
We can see that both oscillators, Stochastic and RSI have entered oversold territory on an hourly basis. The FXstreet.cm Trend Index is bearish, and the next level of support below is Classic daily S2 at 0.9015, with 0.8912 below-