Forex: AUD/USD inches lower
Forex pairs in this Article »
AUD/USD
FXstreet.com (Córdoba) - The Australian dollar pulled back from a 2-week high of 1.0469 scored last Friday against the greenback weighed by the negative tone in stocks as investors refrained from buying risky assets.
AUDUSD edged lower on Monday, although setbacks are shallow with the pair finding support at the 1.0435 zone. At time of writing, AUDUSD is trading at the 1.0440 area, 0.1% below its opening price.
"Aussie traded sideways between 1.0480-280 range and also traded in the 1.0430-350 range as well. But rose well on Friday and can now break the 1.480-280 range on the upside and move towards 1.0535-85", says the Kshitij Consultancy Services Team. "But if at all 1.0480 is not broken then the 1.0480-280 range can well be expected to continue and a dip towards 1.0280 is likely to be seen".
AUDUSD edged lower on Monday, although setbacks are shallow with the pair finding support at the 1.0435 zone. At time of writing, AUDUSD is trading at the 1.0440 area, 0.1% below its opening price.
"Aussie traded sideways between 1.0480-280 range and also traded in the 1.0430-350 range as well. But rose well on Friday and can now break the 1.480-280 range on the upside and move towards 1.0535-85", says the Kshitij Consultancy Services Team. "But if at all 1.0480 is not broken then the 1.0480-280 range can well be expected to continue and a dip towards 1.0280 is likely to be seen".
Free Annual Reports
