FXstreet.com (Córdoba) - The Aussie is losing some ground
against the Greenback and the Yen. AUD/USD has been moving down
since the beginning of the Asian session.
AUD/USD collected over 170 pips on Tuesday and reached a fresh
2-day high at 0.8284 at late NY trade, but the pair was rejected
from those levels and retreated. The cross fell further a moment
ago, right after the Westpac consumer confidence data revealed a
decrease of 5.7%.
Currently AUD/USD is trading at the 0.8220 zone, 0.63% below its
opening price. "still contained in the 0.8160/0.8500 past weeks
range; losing strength according to hourly chart indicators, 4
hours ones remain bullish, while price is above 20 SMA suggesting
further rises ahead if 0.8200 support area holds", said Valeria
Bednarik, analyst at FXstreet.com.
Next supports lie at 0.8200 and 0.8170; while resistance levels
could be found at 0.8280, 0.8310 and 0.8350, said Bednarik.