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30 Jul 2014
AUD/USD falls to 0.9330 and attempts to test July lows
FXStreet (San Francisco) - The Aussie is trading under pressure amid pro-dollar environment on the back of US GDP strong numbers. The AUD/USD fell 40 pips from 0.9370 in the last hour to test lowest levels since July 16 at 0.9330.
Currently, AUD/USD is trading at 0.9336, down 0.50% on the day, having posted a daily high at 0.9390 and low at 0.9332. AUD/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
AUD/USD sentiment
"Talk has buy orders clustered 0.9320/30 ahead of important 0.9320 technical support. Sell stops gathering through .9320 and then we've got the .9300 barrier option interest looming," comments Gerry Davies from FXBeat.
"But at the end of the day we're mired in what looks a decent .9300-500 range. I still hope to see .9300 eventually give out. Fingers crossed," Davies concludes.
Currently, AUD/USD is trading at 0.9336, down 0.50% on the day, having posted a daily high at 0.9390 and low at 0.9332. AUD/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
AUD/USD sentiment
"Talk has buy orders clustered 0.9320/30 ahead of important 0.9320 technical support. Sell stops gathering through .9320 and then we've got the .9300 barrier option interest looming," comments Gerry Davies from FXBeat.
"But at the end of the day we're mired in what looks a decent .9300-500 range. I still hope to see .9300 eventually give out. Fingers crossed," Davies concludes.