8 Aug 2013
AUD/USD breaks below 0.90 again on awful Aussie jobs data
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last trading at fresh session lows 0.8988, off recent session lows at 0.8964, printed on the back of much lower than expected Australian jobs data, despite the fact the unemployment rate remains stable at 5.7% when a 5.8% was the consensus.
AUD/USD bears might be getting worried
“Overnight highs above .9020 have been taken out and the bears will be getting worried,” said FXWW founder Sean Lee, adding: “I’m looking to add to overnight longs near .9040; I know its dangerous buying breaks in a bear market but I think the circumstances are exceptional. I’m looking for a base to start forming now .8990/00.”
AUD/USD key technical levels
Immediate support to the downside for AUD/USD lies at recent session lows 0.8964, followed by yesterday's lows at 0.8919, while to the upside closest resistance shows at Tuesday's highs 0.9006, follwoed by recent session/weekly highs at 0.9037.
AUD/USD bears might be getting worried
“Overnight highs above .9020 have been taken out and the bears will be getting worried,” said FXWW founder Sean Lee, adding: “I’m looking to add to overnight longs near .9040; I know its dangerous buying breaks in a bear market but I think the circumstances are exceptional. I’m looking for a base to start forming now .8990/00.”
AUD/USD key technical levels
Immediate support to the downside for AUD/USD lies at recent session lows 0.8964, followed by yesterday's lows at 0.8919, while to the upside closest resistance shows at Tuesday's highs 0.9006, follwoed by recent session/weekly highs at 0.9037.