Forex: AUD/USD – Downtrend continues

on Jul 3, 2013
Listen Wednesday July 03rd_: The pair yesterday lost one percent and the downtrend continues today. Initially the quote rose to 0.9189 but the uptick was short-lived and the price subsequently fell to a 33-month low of 0.9051. At the moment the pair is staying at 0.9083.

Further falls today could see the 0.9000 level being reached.
The ascending 89-month moving average, currently holding at 0.9037, may act as a support.
Resistance levels for today: 0.9115, 0.9170 and 0.9210.
Support levels for the day: 0.9060, 0.9025 and 0.9000.
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