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26 Feb 2013
Forex: AUD/USD extends losses on stronger USD
The US dollar strengthened broadly, dragging AUD/USD to a fresh 4-month low, after the latest string of US data, that includes the Richmond Fed manufacturing index, new home sales and consumer confidence, came in better than expected.
AUD/USD broke below the 1.0220 level, which was the bottom of its recent range, and fell toward 1.0208, its lowest since Oct 15. At time of writing, AUD/USD is trading around 1.0210/15, 0.4% below its opening price.
On the downside, immediate support for the AUD/USD is seen at 1.0200 (psychological level), ahead of 1.0180 (Oct 10 low), while on the upside, resistances could now be found at 1.0290 (intraday high) and 1.0330 (200-day SMA).
AUD/USD broke below the 1.0220 level, which was the bottom of its recent range, and fell toward 1.0208, its lowest since Oct 15. At time of writing, AUD/USD is trading around 1.0210/15, 0.4% below its opening price.
On the downside, immediate support for the AUD/USD is seen at 1.0200 (psychological level), ahead of 1.0180 (Oct 10 low), while on the upside, resistances could now be found at 1.0290 (intraday high) and 1.0330 (200-day SMA).