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24 Feb 2014
AUD/USD falters ahead of 0.9000
FXStreet (Córdoba) - The AUD/USD managed to erase intraday losses during the European session underpinned by the recovery in risk sentiment and European stocks.
After falling to a 4-day low of 0.8937 weighed by concerns over China's property market, the AUD/USD found support and bounced to fresh highs just below 0.9000. At time of writing, the AUD/USD is trading around 0.8980, a few pips above its opening price, having hit a high of 0.8993.
AUD/USD levels to watch
As for technical levels, the pair could find immediate resistances at 0.8993 (Feb 24 high), 0.9000 (psychological level) and 0.9021 (Feb 20 high). On the downside, immediate supports are seen at 0.8937 (Feb 24 & 20 lows) ahead of 0.8927 (Feb 13 low) and 0.8900 (psychological level).
After falling to a 4-day low of 0.8937 weighed by concerns over China's property market, the AUD/USD found support and bounced to fresh highs just below 0.9000. At time of writing, the AUD/USD is trading around 0.8980, a few pips above its opening price, having hit a high of 0.8993.
AUD/USD levels to watch
As for technical levels, the pair could find immediate resistances at 0.8993 (Feb 24 high), 0.9000 (psychological level) and 0.9021 (Feb 20 high). On the downside, immediate supports are seen at 0.8937 (Feb 24 & 20 lows) ahead of 0.8927 (Feb 13 low) and 0.8900 (psychological level).