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18 Jul 2013
AUD/USD trips stop losses below 0.9170
FXstreet.com (Barcelona) - The AUD/USD is extending its intraday bearish momentum into cheaper quotes, with a last minute acceleration through 0.9180 sending the pair nose-diving over 20 pips to a new low for the session at 0.9162.
AUD/USD technical update
As noted in the last report, the slide accelerated as soon as 0.9170 protection was broken, triggering a few stops in the process. Now the price is attempting to regain a corrective tone, which would face immediate area of resistance at 0.9180, old intraday support now turned into resistance. The hourly candles in the AUD/USD are looking ugly, with price closing near the lows, preemptive of a market starting to be dominated by sellers again, all without forgetting the broad daily range context.
AUD/USD technical update
As noted in the last report, the slide accelerated as soon as 0.9170 protection was broken, triggering a few stops in the process. Now the price is attempting to regain a corrective tone, which would face immediate area of resistance at 0.9180, old intraday support now turned into resistance. The hourly candles in the AUD/USD are looking ugly, with price closing near the lows, preemptive of a market starting to be dominated by sellers again, all without forgetting the broad daily range context.