Back
2 Jul 2014
AUD/USD breaks below 0.9450 and extends 0.9500 rejection
FXStreet (San Francisco) - After trading in consolidation mode around 0.9450/65 in the European morning, the AUD/USD finally broke below the 0.9450 level fueled by pro-USD sentiment amid upbeat ADP employment report and Aussie profit taking.
The AUD/USD fell 35 pips in the last hour from 0.9465 to break below 0.9450 and trade as low as 0.9430. The pair is adding more bearish movement from its 0.9500 rejection on Tuesday July 1st.
Currently, AUD/USD is trading at 0.9439, down 0.61% on the day, having posted a daily high at 0.9500 and low at 0.9430. AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
AUD/USD sentiment
"Stops below 0.9440 have been hit. Next support come in at 0.9410," Jamie Coleman comments on AUD/USD. "Hourly charts look like a head and shoulders top to me at a quick glance."
The AUD/USD fell 35 pips in the last hour from 0.9465 to break below 0.9450 and trade as low as 0.9430. The pair is adding more bearish movement from its 0.9500 rejection on Tuesday July 1st.
Currently, AUD/USD is trading at 0.9439, down 0.61% on the day, having posted a daily high at 0.9500 and low at 0.9430. AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
AUD/USD sentiment
"Stops below 0.9440 have been hit. Next support come in at 0.9410," Jamie Coleman comments on AUD/USD. "Hourly charts look like a head and shoulders top to me at a quick glance."