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26 Feb 2013
Forex: AUD/USD in session lows, around 1.0250
The Aussie dollar is facing renewed selling pressure ahead of the European open on Tuesday, dropping to session lows in the region of 1.0240/50
The dovish speech by RBA Assistant Governor Debelle has collaborated in the downside, as he signalled that there are several policy options for the RBA to deal with the strong AUD, including rate cuts.
At the moment, the cross is down 0.09% at 1.0248 with the next support at 1.0220 (Lower Bollinger) followed by 1.0203 (low Oct.15) and finally 1.0175 (low Oct.9).
On the upside, a breakout of 1.0314 (MA10d) would clear the way to 1.0329 (MA200d) en route to 1.0341 (high Feb.22).
The dovish speech by RBA Assistant Governor Debelle has collaborated in the downside, as he signalled that there are several policy options for the RBA to deal with the strong AUD, including rate cuts.
At the moment, the cross is down 0.09% at 1.0248 with the next support at 1.0220 (Lower Bollinger) followed by 1.0203 (low Oct.15) and finally 1.0175 (low Oct.9).
On the upside, a breakout of 1.0314 (MA10d) would clear the way to 1.0329 (MA200d) en route to 1.0341 (high Feb.22).