FXstreet.com (Córdoba) - The Australian dollar was under
pressure on Tuesday amid risk aversion, sentiment that was
increased after U.S. home sales data dropped to the lowest level
since May 1995. AUD/USD consolidated a daily decline of 1.10%,
closing the day at 0.8814 after reaching a fresh 1-month low at
0.8795 from where it bounced.
Currently AUD/USD is trading at the 0.8850 area, where is testing
the 20 SMA in the hourly charts.
"Static resistance area around 0.8860/80 should keep the upside
limited now. In the case of a recovery above those levels, pair
could rally towards 0.8920 before finding an intraday top. As long
as capped by that 0.8860/80 area, bias remains to the downside in
the pair", said Valeria Bednarik, analyst at FXstreet.com.
Support levels: 0.8800 0.8770 0.8740. Resistance levels: 0.8870
0.8920 0.8945.