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8 Aug 2014
AUD/USD sinks after double whammy, critical 0.92 in sight...
FXStreet (Bali) - AUD/USD kept on falling post the RBA quarterly monetary policy statement, with news that Obama had authorized targeted airstrikes in Iraq exacerbating the pain for the Aussie.
At present, the AUS/USD trades at the low of the day at 0.9243, level that converges with the origin of a spike from May 30 this year, thus the area is expected to act as solid demand. However, note that the Aussie has been in free-fall since the employment report on Thursday, so sentiment is not helping at all to prevent further losses.
On the upside, a recovery should see plenty of selling interested stacked between 0.9270-80 ahead of 0.93 round number. The key area to break to the downside remains sticky support at 0.92.
At present, the AUS/USD trades at the low of the day at 0.9243, level that converges with the origin of a spike from May 30 this year, thus the area is expected to act as solid demand. However, note that the Aussie has been in free-fall since the employment report on Thursday, so sentiment is not helping at all to prevent further losses.
On the upside, a recovery should see plenty of selling interested stacked between 0.9270-80 ahead of 0.93 round number. The key area to break to the downside remains sticky support at 0.92.