Forex: AUD/USD down to 1.0530 on new risk-off round
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AUD/USD
FXstreet.com (Barcelona) - AUDUSD is currently at 1.0535, off recent fresh session lows at 1.0530, around same low levels post-Aussie CPI data yesterday, selling off from session highs around the 1.0557, following Apple share results in the US, that have dragged the company's price down almost -11% in after hours trading, starting a risk-off round of selling around the markets, including gold and oil.
The pair is still higher by +0.26% for the week, in this low volatility environment the pair is in since early Dec, last around 65 pips per day on daily average range. According to Valeria Bednarik, Chief Analyst at Fxstreet.com, AUDUSD has "no clear technical readings to go with," she says, so "playing the range gets more dangerous as time goes by: rather sooner than later majors will leave current lethargy. According to bigger time frames, the 1.0580/600 area should maintain the upside limited, so selling near the level with a tight stops seems the way to go," Valeria concludes.
The analyst finds support levels at: 1.0520, 1.0490 and 1.0460, while resistance levels at: 1.0575, 1.0600 and 1.0660.
The pair is still higher by +0.26% for the week, in this low volatility environment the pair is in since early Dec, last around 65 pips per day on daily average range. According to Valeria Bednarik, Chief Analyst at Fxstreet.com, AUDUSD has "no clear technical readings to go with," she says, so "playing the range gets more dangerous as time goes by: rather sooner than later majors will leave current lethargy. According to bigger time frames, the 1.0580/600 area should maintain the upside limited, so selling near the level with a tight stops seems the way to go," Valeria concludes.
The analyst finds support levels at: 1.0520, 1.0490 and 1.0460, while resistance levels at: 1.0575, 1.0600 and 1.0660.
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