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AUD/USD Below 0.90 – only to bounce back up (so far)

After sliding below the previous double bottom and to new multi-year lows, the Australian dollar is now below the all important 0.90 line as a very exciting week comes to an end. The low was 0.8998.

The pair fell just below the round nubmer but bounced back quickly. Is it a real break or just a quick dip? What’s next from here? — updates coming

The next big figures for the Aussie are 0.8767 and 0.8567, which were lows back in 2010. All in all the Aussie is trading at levels seen in 2010.

Update: the Aussie followed the dip with a big bounce, back to the previous bottom of 0.9036. Markets are behaving quite wildly, to say the least.

For more lines, events and analysis, see the AUD to USD forecast.

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.