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21 Apr 2014
AUD/USD breaks lower, en route to 0.93
FXStreet (Bali) - AUD/USD is operating on a heavy tone in early Tokyo, with volumes still well below normal levels.
AUD/USD opened just below 0.9333 resistance, and after a failed attempt to regain the technical area, a sell-off en route to 0.93 (triple top in April) has unfolded, with the lowest so far at 0.9315.
In view of Valeria Bednarik, Chief Analyst at FXStreet, "a break below 0.9320 should lead to a downward extension towards key .09260 strong midterm support", adding that "so far, stocks upward momentum has prevented the pair from falling big, but has not been enough to favor a recovery."
AUD/USD opened just below 0.9333 resistance, and after a failed attempt to regain the technical area, a sell-off en route to 0.93 (triple top in April) has unfolded, with the lowest so far at 0.9315.
In view of Valeria Bednarik, Chief Analyst at FXStreet, "a break below 0.9320 should lead to a downward extension towards key .09260 strong midterm support", adding that "so far, stocks upward momentum has prevented the pair from falling big, but has not been enough to favor a recovery."