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9 Feb 2015
AUD/USD: Remains in bearish territory below 0.8095
FXStreet (Guatemala) - AUD/USD is trading at 0.7807 with a high of 0.7836 and a low of 0.7746 overnight in the US session.
AUD/USD remains on the back foot with downside pressures from the RBA containing the major and weighed upon by commodity prices. The weekend's trade data from China wasn't supportive either, while later today, China will release its monthly inflation figures, although with lower oil markets do not expect a turn around from five year lows.
To the downside, 0.7800 and 0.7760 come as key supports ahead of 0.7720 and 0.77 the figure and 0.7625 marks the monthly low. Initial resistance is 0.8034 (7th Jan low) ahead of key resistance that remains at the 0.8095
downtrend and while below here, the market remains in bearish territory.
AUD/USD remains on the back foot with downside pressures from the RBA containing the major and weighed upon by commodity prices. The weekend's trade data from China wasn't supportive either, while later today, China will release its monthly inflation figures, although with lower oil markets do not expect a turn around from five year lows.
To the downside, 0.7800 and 0.7760 come as key supports ahead of 0.7720 and 0.77 the figure and 0.7625 marks the monthly low. Initial resistance is 0.8034 (7th Jan low) ahead of key resistance that remains at the 0.8095
downtrend and while below here, the market remains in bearish territory.