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1 May 2013
Forex: AUD/USD falls to fresh lows after US data
FXstreet.com (Córdoba) - The Australian dollar slumped versus the greenback to fresh daily lows as disappointing ADP data added a dose of risk aversion to the markets and weighed on commodity currencies.
AUD/USD dropped nearly 50 pips after the data, sliding below the 100-hour SMA, and stretched to a 2-day low of 1.0308 in recent dealings. At time of writing, the pair is trading around 1.0315/20, where it records a 0.4% loss on Wednesday.
In terms of technical levels, on the downside, immediate supports for AUD/USD are seen at 1.0300 (psychological level) and 1.0270 (low Apr 29). On the other hand, resistances could be found at 1.0370 (21-day SMA) and 1.0400 (100- and 200-day SMAs).
AUD/USD dropped nearly 50 pips after the data, sliding below the 100-hour SMA, and stretched to a 2-day low of 1.0308 in recent dealings. At time of writing, the pair is trading around 1.0315/20, where it records a 0.4% loss on Wednesday.
In terms of technical levels, on the downside, immediate supports for AUD/USD are seen at 1.0300 (psychological level) and 1.0270 (low Apr 29). On the other hand, resistances could be found at 1.0370 (21-day SMA) and 1.0400 (100- and 200-day SMAs).