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Forex: AUD/USD above 1.01 ahead of Aussie data

By FXstreet.com,  May 06, 2012, 08:48:00 PM EDT

FXstreet.com (San Francisco) - Australian dollar continues to slide against the greenback this Monday, with AUD/USD having fallen to a fresh 2012 low of 1.0109 vs. 1.0183 ahead of a slew of economic indicators at 0130 GMT.

"The hourly chart shows the pair failed to fill the opening gap, and seems unlikely it will do anytime soon, as indicators and moving averages, continue heading lower, while risk sentiment will help keep the upside limited," says Valeria Bednarik, Chief Analyst at FXstreet.com.

Last at 1.0125, price hovers just above the 50% retracement of the 0.9385/1.0854 advance. If the pair continues to slide, support levels lie at 1.0100, 1.0060 and 1.0025. To the upside, resistance levels lie at 1.0140, 1.090 and 1.0225.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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