31 Jul 2015
AUD/USD in fresh multi-year lows
FXStreet (Edinburgh) - The offered tone is picking up pace around the Aussie dollar now, dragging AUD/USD to fresh multi-year lows near 0.7240.
AUD/USD weaker sub-0.7250
The pair has dropped to levels last seen in April 2009 below 0.7250 following renewed selling pressure around AUD. Spot is extending its decline for the sixth consecutive week so far, against a backdrop of increasing weakness in the commodities space – mainly iron ore – and omnipresent jitters on a potential slowdown in the Chinese economy.
AUD/USD relevant levels
At the moment the pair is retreating 0.56% at 0.7251 with the next support at the 0.7200 psychological handle. On the upside, a surpass of 0.7346 (high Jul.29) would open the door to 0.7449 (high Jul.21) and finally 0.7488 (high Jul.14).
AUD/USD weaker sub-0.7250
The pair has dropped to levels last seen in April 2009 below 0.7250 following renewed selling pressure around AUD. Spot is extending its decline for the sixth consecutive week so far, against a backdrop of increasing weakness in the commodities space – mainly iron ore – and omnipresent jitters on a potential slowdown in the Chinese economy.
AUD/USD relevant levels
At the moment the pair is retreating 0.56% at 0.7251 with the next support at the 0.7200 psychological handle. On the upside, a surpass of 0.7346 (high Jul.29) would open the door to 0.7449 (high Jul.21) and finally 0.7488 (high Jul.14).