Forex: AUD/USD casualty of risk aversion, remains above 1.0200 however
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AUD/USD
FXstreet.com (Barcelona) - The pair has continued to depreciate this morning during European trading due to the growing panic and rampant risk aversion around the world Monday. Since its opening, the AUDUSD has withdrawn from its maximum (1.0255) and now operates at the lower end of the price range of the day (1.0205 day minimum).
It will be a huge week in Australia as the Bernanke speech will be the key catalyst of the AUD. According to the Westpac Strategy Team, "We are approaching the sell zone 1.0250, which will signal a sharp decline in price."
At the present, the cross is trading in the vicinity of 1.0212, dropping -0.35% below the opening price. According to the technical analysts at Mataf.net, the pair will encounter the next short-term supports at 1.0152, followed by 1.0081, and then 1.0039. On the upside, the resistance levels are calculated at 1.0265, 1.0307, and finally 1.0378.
It will be a huge week in Australia as the Bernanke speech will be the key catalyst of the AUD. According to the Westpac Strategy Team, "We are approaching the sell zone 1.0250, which will signal a sharp decline in price."
At the present, the cross is trading in the vicinity of 1.0212, dropping -0.35% below the opening price. According to the technical analysts at Mataf.net, the pair will encounter the next short-term supports at 1.0152, followed by 1.0081, and then 1.0039. On the upside, the resistance levels are calculated at 1.0265, 1.0307, and finally 1.0378.
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