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10 Mar 2014
AUD/USD opens lower, hovering around 0.9055
FXStreet (Córdoba) - The AUD/USD started the week lower, with a downside gap, trading at 0.9050, the lowest price since last Thursday. On Friday closed at 0.9064, with bearish momentum and opened with the same tone.
The Aussie is falling across the board at the beginning of the week. Chinese data released during the weekend probably pushed the currency to the downside. The trade balance of China on February showed a surprise deficit of $23B; analysts were expecting a surplus.
Technical levels to watch
To the upside immediate resistance lies at 0.9070 and above here at 0.9110 and 0.9130/35 (March 7 high). Potential support levels might be located at 0.9030, 0.8990 and below here at 0.8970.
The Aussie is falling across the board at the beginning of the week. Chinese data released during the weekend probably pushed the currency to the downside. The trade balance of China on February showed a surprise deficit of $23B; analysts were expecting a surplus.
Technical levels to watch
To the upside immediate resistance lies at 0.9070 and above here at 0.9110 and 0.9130/35 (March 7 high). Potential support levels might be located at 0.9030, 0.8990 and below here at 0.8970.