Forex: AUD/USD falls below 1.0300
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AUD/USD
FXstreet.com (San Francisco) - The Aussie is trading lower on Thursday and after falling around 50 pips from 1.0340, the AUDUSD has broken 1.0315 and 1.0300 supports and has reached fresh 1-month low at 1.0285.
AUDUSD is currently trading at 1.0290, 0.57% below opening price action. "The AUDUSD broke below the 1.0300 mark following the bearish trend the pair has been developing since reaching 1.0615 monthly high," says Valeria Bednarik.
"Technically bearish, price now may see an extension towards the 1.0260 area before finding support, while once below this last, 1.0220, 38.2% retracement of the latest daily bullish run comes next Resistances, from current 1.0290 area come at 1.0315 an 1.0340 daily high," concluded Bednarik.
AUDUSD is currently trading at 1.0290, 0.57% below opening price action. "The AUDUSD broke below the 1.0300 mark following the bearish trend the pair has been developing since reaching 1.0615 monthly high," says Valeria Bednarik.
"Technically bearish, price now may see an extension towards the 1.0260 area before finding support, while once below this last, 1.0220, 38.2% retracement of the latest daily bullish run comes next Resistances, from current 1.0290 area come at 1.0315 an 1.0340 daily high," concluded Bednarik.
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