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25 Feb 2014
AUD/USD falls toward 0.9000 in Asia
FXStreet (Córdoba) - The AUD/USD is moving to the downside on Asia, retreating after hitting yesterday at 0.9048 the highest price since last Tuesday. Recently reached a fresh daily low at 0.9013, after breaking below a trading range between 0.9045 and 0.9030.
Despite pulling back the AUD/USD still holds more than 50 pips above the price it had at the beginning of the week showing some upside momentum. According to Valeria Bednarik, Chief Analyst at FXStreet indicators in the four hour chart show “a more lively upward momentum that support another run north in the pair, particularly if price is able to overcome the 0.9060 static resistance level”.
Since February 11 the AUD/USD is moving sideways with support at 0.8925/50 and resistance below 0.9070.
Despite pulling back the AUD/USD still holds more than 50 pips above the price it had at the beginning of the week showing some upside momentum. According to Valeria Bednarik, Chief Analyst at FXStreet indicators in the four hour chart show “a more lively upward momentum that support another run north in the pair, particularly if price is able to overcome the 0.9060 static resistance level”.
Since February 11 the AUD/USD is moving sideways with support at 0.8925/50 and resistance below 0.9070.