Forex: AUD/USD breaks below 1.0450 to fresh weekly lows

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FXstreet.com (Barcelona) - Aussie just had a decent dive to fresh session and weekly lows at 1.0437, last at 1.0449, following the demise in US Congress of Republican's 'Plan B' for 'fiscal cliff', pulling the risk-off trigger, and smacking SP500 futures along with local share markets, pretty much all in the red by now, except Aussie ASX still about to break even.

"The AUD/USD bearish momentum remains strong according to both, 1 and 4 hours chart readings, as indicators head strongly south in negative territory in both time frames," Chief Analyst at Fxstreet.com Valeria Bednarik notes, adding: "A long term ascendant trend line coming from 1.0148 is today around 1.0390, this month low and probable target of current bearish movement," she concludes. The pair is down for the week -1.11%, while gold is -3%.

Valeria spots support levels at: 1.0460, 1.0430 and 1.0390, while resistance levels at: 1.0510, 1.0540 and 1.0590.



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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