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2 Aug 2013
AUD/USD breaking to fresh 35-month lows on PPI
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last trading at 0.8915, off fresh session and 35-month lows at the 0.89 figure, following lower than expected Australian PPI.
AUD/USD facing further rate cuts
“So, the results for the PPI are in at lower than expected, once again confirming few impediments on the expected inflation front to an RBA rate cut,” said Forexlive editor Eamonn Sheridan. The pair is down -3.8% for the week so far.
AUD/USD key technical levels
Immediate support to the downside for AUD/USD lies at recent session/35-month low 0.89, followed by July 14 2010 highs at 0.8871, while to the upside closest resistance shows at yesterday's lows at 0.8923, followed by Wednesday's lows at 0.8933.
AUD/USD facing further rate cuts
“So, the results for the PPI are in at lower than expected, once again confirming few impediments on the expected inflation front to an RBA rate cut,” said Forexlive editor Eamonn Sheridan. The pair is down -3.8% for the week so far.
AUD/USD key technical levels
Immediate support to the downside for AUD/USD lies at recent session/35-month low 0.89, followed by July 14 2010 highs at 0.8871, while to the upside closest resistance shows at yesterday's lows at 0.8923, followed by Wednesday's lows at 0.8933.