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8 Jul 2013
AUD/USD falls to session lows
FXstreet.com (New York) - The AUD/USD foreign exchange rate is presently establishing fresh lows Monday during Asian trading.
AUD/USD trading above support
In these moments, the AUD/USD is trading in the depths of 0.9041 (session low), incurring a loss of -0.09% thus far. According to analyst Valeria Bednarik at FXstreet.com, the AUD/USD is slated to be fortified by supports at 0.9035, ahead of 0.8990, and eventually 0.8950.
AUD/USD 34-month lows possible in near-term
The AUD/USD fell -12% in Q2 as another RBA rate cut combined with not coincidental softness in key Asian trading partners and a global scramble for USD. “The mood is not much improved for AUD but it is now (finally) close to our estimate of fair value, 0.91-0.92. While fresh 34-month lows are quite possible near-term, our base case is a period of stabilization and modest gains in AUD/USD, to around 0.9300/50 multi-day/week.” notes Global FX Strategist Sean Callow at Westpac.
AUD/USD trading above support
In these moments, the AUD/USD is trading in the depths of 0.9041 (session low), incurring a loss of -0.09% thus far. According to analyst Valeria Bednarik at FXstreet.com, the AUD/USD is slated to be fortified by supports at 0.9035, ahead of 0.8990, and eventually 0.8950.
AUD/USD 34-month lows possible in near-term
The AUD/USD fell -12% in Q2 as another RBA rate cut combined with not coincidental softness in key Asian trading partners and a global scramble for USD. “The mood is not much improved for AUD but it is now (finally) close to our estimate of fair value, 0.91-0.92. While fresh 34-month lows are quite possible near-term, our base case is a period of stabilization and modest gains in AUD/USD, to around 0.9300/50 multi-day/week.” notes Global FX Strategist Sean Callow at Westpac.