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15 Apr 2013
Forex: AUD/USD extends losses to fresh 1-week low
FXstreet.com (Córdoba) - The Australian dollar extended its decline and hit fresh lows versus the dollar and the yen as weaker-than-expected Chinese Q1 GDP weighed on risky assets and fueled gold's sell-off.
AUD/USD lost over 100 pips throughout the day, briefly sliding below the 1.0400 mark, to print a 1-week low of 1.0394 as investors continue to get rid of high-yielders in benefit of safe-havens. At time of writing, AUD/USD is trading around 1.0410, still down 0.8% on the day.
As for technical levels, the Mataf.net analyst team locates immediate support levels for the cross at 1.0395, 1.0350 and 1.0295, while they see resistances at 1.0445 and 1.0495 ahead of 1.0520.
AUD/USD lost over 100 pips throughout the day, briefly sliding below the 1.0400 mark, to print a 1-week low of 1.0394 as investors continue to get rid of high-yielders in benefit of safe-havens. At time of writing, AUD/USD is trading around 1.0410, still down 0.8% on the day.
As for technical levels, the Mataf.net analyst team locates immediate support levels for the cross at 1.0395, 1.0350 and 1.0295, while they see resistances at 1.0445 and 1.0495 ahead of 1.0520.