AUD/USD extends fall – 0.90 level within reach
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AUD/USD extends fall – 0.90 level within reach

AUD/USD couldn’t believe the extraordinary job gains. The data served as  an opportunity for taking profit on shorts and a necessary correction before another fall.

Indeed, the gradual grind lower continued and AUD/USD found a bottom for now only at the low level of 0.9050. Can it break below 0.90?

The Aussie was  the most resilient currency in the face of the global dollar storm, riding the strong GDP number among other things. However, now the Aussie is playing catch up and suffers badly.

0.9050 serves as support and a last  line of defense before the round and closely watched 0.90 level. It is followed by 0.8910 and 0.8850.  Above, 0.9110 and 0.9160 serve as resistance.

Over the weekend, some data from China could impact the Aussie on the opening. The RBA is probably delighted with the current lower levels of the Australian dollar.

Here is the chart and for more data, see AUD USD forecast.

AUDUSD September 12 2014 technical analysis 30 minute forex chart Aussie dollar

Also the New Zealand dollar is on the back foot, suffering from the dollar’s strength as well as from the dovishness of the central bank.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.