Forex: AUD/USD extending its decline, around 1.0520
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AUD/USD
FXstreet.com (Barcelona) - The Aussie dollar is hovering over the 1.0520 region on Thursday, prolonging its decline from weekly highs in the vicinity of 1.0570, as a cautious tone prevails among market participants ahead of the next RBA monetary policy meeting on February 5
"We remain unable to rule out stabs to resistance at 1.0600/24 (August and September highs). This remains tough overhead resistance and failure here would once again allow for
slippage to the 1.0414 3 month uptrend near term", comments expert Karen Jones at Commerzbank.
At the moment, the cross is down 0.31% at 1.0521 facing the immediate support at 1.0527 (low Jan.23) followed by 1.0505 (low Jan.22) and 1.0496 (MA21d).
On the upside, a break above 1.0560 (hourly high/low Jan.23) would open the door to 1.0578 (high Jan.22) en route to 1.0580 (high Jan.16).
"We remain unable to rule out stabs to resistance at 1.0600/24 (August and September highs). This remains tough overhead resistance and failure here would once again allow for
slippage to the 1.0414 3 month uptrend near term", comments expert Karen Jones at Commerzbank.
At the moment, the cross is down 0.31% at 1.0521 facing the immediate support at 1.0527 (low Jan.23) followed by 1.0505 (low Jan.22) and 1.0496 (MA21d).
On the upside, a break above 1.0560 (hourly high/low Jan.23) would open the door to 1.0578 (high Jan.22) en route to 1.0580 (high Jan.16).
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