Forex | Forex | Forex: AUD/USD: Aussie pares losses and reaches 0.8300 (31/07/2009 08:46:00)

Forex: AUD/USD: Aussie pares losses and reaches 0.8300

FXstreet.com (Barcelona) - Australian Dollar bounce from 0.8125 low on Wednesday has extended to 0.8305 high ahead of the European session opening, getting back all the ground lost on Tuesday and Wednesday, to ease afterwards to levels around 0.8270.

According to the E-Forex Team, the Aussie could be ahead of a re-test of the 0.8335/40 resistance area: "The Aussie dollar recovered recent losses and holds gains just fine near the top-side of .8335/40. A re-test of the said resistance is likely, as long as support at .8230 remains intact. Momentum is positive on both short-term and hourly charts."

Support levels, according to the E-Forex Team, lie at .8230, and below there, 0.8130/50, 0.8070 and 0.8000. On the upside, resistance levels lie at 0.8250/60, and above there, 0.8335/50 and 0.8380

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