Forex: AUD/USD resumes the downside, nears 1.0400
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AUD/USD
FXstreet.com (Córdoba) - The Australian dollar resumed the downside on Tuesday and is back headed toward the bottom of its recent range versus the greenback, as cautious persists in financial markets ahead of the FOMC decision and the US NFP report.
AUDUSD has lost over 50 pips throughout the day and hit a low of 1.0415 in recent dealings. At time of writing, AUDUSD is trading at the 1.0420 zone, recording a 0.5% loss on the day.
"Aussie continues to trade in the 1.0620-350 range from the past few days. In the immediate term it has dipped inside the range after taking resistance near 1.0475 levels", says the Kshitij Consultancy Services Team. "Bias remains for it to move up towards 1.0620 after this current dip takes support near 1.0400-385 levels".
AUDUSD has lost over 50 pips throughout the day and hit a low of 1.0415 in recent dealings. At time of writing, AUDUSD is trading at the 1.0420 zone, recording a 0.5% loss on the day.
"Aussie continues to trade in the 1.0620-350 range from the past few days. In the immediate term it has dipped inside the range after taking resistance near 1.0475 levels", says the Kshitij Consultancy Services Team. "Bias remains for it to move up towards 1.0620 after this current dip takes support near 1.0400-385 levels".
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