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Forex: AUD/USD consolidates losses below 1.0700

By FXstreet.com,  February 10, 2012, 12:31:00 PM EDT

FXstreet.com (Córdoba) - After dropping more than 150 pips in the wake of risk aversion, the AUD/USD finally found support at the 1.0640 area where it bottomed out at the beginning of the American session.

AUD/USD has managed to trim a part of its recent steep losses within the last hours, although the recovery has been limited by 1.0685, former support now turned resistance. At time of writing, AUD/USD is quoting at the 1.0675 area, 1.0% below its opening price.

As for technical levels, next supports could be found at 1.0640, 1.0600 and 1.0540, while next resistances are seen at 1.0685, 1.0700 and 1.0740.




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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