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26 Feb 2014
AUD/USD hits 2-day low
FXStreet (Córdoba) - The Australian dollar extended its setback during the American session and printed fresh lows against the dollar, weighed by increasing risk aversion amid political tensions.
Following a volatile European session, the AUD/USD resumed the downside and dropped more than 70 pips during the New York session to a 2-day low of 0.8954 moving in sync with gold that plummeted after hitting 3-month highs above $1345/oz. At time of writing, the AUD/USD is trading at the 0.8960 area, recording a 0.6% loss on the day, although it holds well within this week's range.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could found immediate supports at 0.8955/4 (Feb 26 low/20-day SMA) and 0.8937/35 (Feb 24 & 20 lows). On the upside, resistances are seen at 0.9025 (Feb 26 high), 0.9048 (Feb 24 high) and 0.9080 (Feb 18 high).
Following a volatile European session, the AUD/USD resumed the downside and dropped more than 70 pips during the New York session to a 2-day low of 0.8954 moving in sync with gold that plummeted after hitting 3-month highs above $1345/oz. At time of writing, the AUD/USD is trading at the 0.8960 area, recording a 0.6% loss on the day, although it holds well within this week's range.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could found immediate supports at 0.8955/4 (Feb 26 low/20-day SMA) and 0.8937/35 (Feb 24 & 20 lows). On the upside, resistances are seen at 0.9025 (Feb 26 high), 0.9048 (Feb 24 high) and 0.9080 (Feb 18 high).