Back
18 Apr 2013
Forex: AUD/USD falls to new low below 1.0270
FXstreet.com (Barcelona) - The Australian Dollar is trading heavy along the early going of the Asian session, having briefly breached 1.0275 NY lows to set a new 5-week low at 1.0268. Selling pressure on the metals market is weighing on the Aussie.
In view of Valeria Bednarik, chief analyst at FXstreet.com: " The Australian dollar maintains the negative bias in the short term, as the hourly chart shows indicators still heading lower and price below 20 SMA."
In the 4 hours chart, Valeria sees also "favors another round of selling, although price will find a strong midterm support at 1.0260" she says, adding that "once below this last, 1.0100 comes as a possibility for next sessions."
In the next 10 minutes, China is set to publish relevant housing prices information, an event which may add volatility to the pair.
In view of Valeria Bednarik, chief analyst at FXstreet.com: " The Australian dollar maintains the negative bias in the short term, as the hourly chart shows indicators still heading lower and price below 20 SMA."
In the 4 hours chart, Valeria sees also "favors another round of selling, although price will find a strong midterm support at 1.0260" she says, adding that "once below this last, 1.0100 comes as a possibility for next sessions."
In the next 10 minutes, China is set to publish relevant housing prices information, an event which may add volatility to the pair.