30 Oct 2013
AUD/USD penetrates 0.9475, solid selling interest
FXstreet.com (Barcelona) - AUD/USD bearish trend is expanding further at the Tokyo open, with the break below 0.9475 support allowing for an additional 10 pips fall towards 0.9465, new session low.
It smells like we are back to the old selling days
According to Ivan Delgado, Head of Asian Editors at FXstreet.com: "The trend continues to develop on a non volatile fashion, suggesting that pullbacks will be shallow. Any retest of 0.95 (20-H4 EMA) up to 0.9520/30 should meet plenty of sellers."
How much room to the downside today?
Looking at the prospects of further downside expansion, Jim Langlands, Founder at FXCharts, notes: "AUD/USD is now hovering just above short term Fibo support at 0.9462 (61.8% of 0.9280/0.9757) which may hold it for a while and I would not be looking for too much downside action today. If wrong, a break would see a run down towards 0.9428 (38.2% of 0.8891/0.9757) and then on towards 0.9400. Given the oversold nature of the short term charts I would be surprised to see that happen today."
It smells like we are back to the old selling days
According to Ivan Delgado, Head of Asian Editors at FXstreet.com: "The trend continues to develop on a non volatile fashion, suggesting that pullbacks will be shallow. Any retest of 0.95 (20-H4 EMA) up to 0.9520/30 should meet plenty of sellers."
How much room to the downside today?
Looking at the prospects of further downside expansion, Jim Langlands, Founder at FXCharts, notes: "AUD/USD is now hovering just above short term Fibo support at 0.9462 (61.8% of 0.9280/0.9757) which may hold it for a while and I would not be looking for too much downside action today. If wrong, a break would see a run down towards 0.9428 (38.2% of 0.8891/0.9757) and then on towards 0.9400. Given the oversold nature of the short term charts I would be surprised to see that happen today."