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FXStreet (Córdoba) - The aussie started the week with a decline of 80 pips against the US dollar. Greenback was among the best performers across the board. AUD/USD moved with a downside bias all day, retreating after reaching on Friday 0.9400.
During the American session the pair bottomed at 0.9278, the lowest since last Wednesday. Then attempted to recover but quickly found resistance at 0.9290 and pulled back toward the lows, to end the day trading around 0.9280.
AUD/USD key short term support at 0.9240
“In the 4 hours chart the pair presents a strong bearish tone with momentum accelerating lower and price finally moving away from its 200 EMA that anyway stands flat in the 0.9330 price zone”, said Valeria Bednarik, Chief Analyst at FXStreet.
According to Bednarik a break below 0.9240, “should signal a stronger decline, eyeing a probable break below the 0.9200 figure for the upcoming 24 hours.”
