Forex: AUD/USD drop below 1.0150 puts parity in sight – V.Bednarik
Forex pairs in this Article »
AUD/USD
FXstreet.com (San Francisco) - The Australian dollar enjoyed modest gains Tuesday and advanced for a second straight day against the greenback on the back of rising iron ore prices, and on speculation over PBoC easing. Iron ore has risen $12 since the weekly opening.
"Recent price behavior, suggest selling interest may become exhausted, as [AUDUSD] seems unable to fall below the 1.0150/60 strong static support level, although the upside seems still limited," observes Valeria Bednarik, Chief Analyst at FXstreet.com.
At the time of writing, the USD is getting a surge of buying interest, sending the pair to session lows in the 1.0180 price zone, around 20 pips from its staring price this Wednesday in Asia.
The analyst also says that the technical outlook in both the 1 and 4-hour chart supports the downside bias; "An acceleration below 1.0150 should put parity at sight for the upcoming sessions," she says.
"Recent price behavior, suggest selling interest may become exhausted, as [AUDUSD] seems unable to fall below the 1.0150/60 strong static support level, although the upside seems still limited," observes Valeria Bednarik, Chief Analyst at FXstreet.com.
At the time of writing, the USD is getting a surge of buying interest, sending the pair to session lows in the 1.0180 price zone, around 20 pips from its staring price this Wednesday in Asia.
The analyst also says that the technical outlook in both the 1 and 4-hour chart supports the downside bias; "An acceleration below 1.0150 should put parity at sight for the upcoming sessions," she says.
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