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Forex: AUD/USD extends decline below 0.8150/65, to 0.8100 low

By FXstreet.com,  May 25, 2010, 03:51:00 AM EDT

FXstreet.com (Barcelona) - Australian Dollar's recovery from 11-month low at 0.8070 has been capped at 0.8360/65 resistance area and the pair has plunged in Asia, as market sentiment deteriorated, to extend at European opening, piercing below 0.8150/65 support, to reach session low at 0.8100.

If the pair breaks below 0.8100, next support level would be 15-month low at 0.8070, and then, probably 0.8000 (figure).

On the upside, the Aussie could find resistance at 0.8160 (previous low), and above here, 0.8250 (session high) and 0.8360/65 (May 21/24 high).




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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