Forex: AUD/USD barely above 1.0400 with Aussie markets closed
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AUD/USD
FXstreet.com (Barcelona) - Holiday in Australia will keep domestic markets closed, with Aussie near session lows last at 1.0413, slightly lower for the session being, from previous weekly close Friday above 1.0420. Since North Korea threaten past Thursday with new nuclear tests, despite best HSBC PMI China in almost 2 years, the pair has lost more than -1.31%.
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, the AUDUSD's "bearish tone remains strong according to the hourly chart that shows price below 20 SM and indicators heading lower in negative territory. In the 4 hours chart indicators hold in oversold territory, with little aims to go higher at the time being: price needs at least to recover the 1.0450 level to erase the bearish tone, while once below 1.0390, the downside will be exposed up to 1.0300 area," the analyst concludes.
Valeria spots support levels at: 1.0390, 1.0345 and 1.0300, while resistance levels at: 1.0450, 1.0490 and 1.0520.
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, the AUDUSD's "bearish tone remains strong according to the hourly chart that shows price below 20 SM and indicators heading lower in negative territory. In the 4 hours chart indicators hold in oversold territory, with little aims to go higher at the time being: price needs at least to recover the 1.0450 level to erase the bearish tone, while once below 1.0390, the downside will be exposed up to 1.0300 area," the analyst concludes.
Valeria spots support levels at: 1.0390, 1.0345 and 1.0300, while resistance levels at: 1.0450, 1.0490 and 1.0520.
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