Forex: AUD/USD at 0.9070

on Jul 8, 2013
Listen Monday July 08th_: Last week the AUD/USD continued its downtrend, shedding 0.95 percent for the week. Since April the pair has fallen by 14.65 percent. Thus far today the quote has been confined within a 30-pip range and currently the pair is staying at 0.9070.

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The price action is happening below the MA89 and MA200 on the hourly, four-hour, daily and weekly scales, which supports the downtrend. However, the pair is right at the ascending 89-month simple moving average, which may act as a support and bring consolidation.
Resistance levels today: 0.9080, 0.9125 and 0.9180.
Support levels: 0.9040, 0.9015 and 0.8970.



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AUD Forex