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12 Apr 2013
Forex: AUD/USD briefly dips below 1.0500
FXstreet.com (Córdoba) - The Australian dollar saw a quick slide and printed a 2-day low sub 1.0500 during the New York session, dragged by gold which slumped below $1500 an ounce for first time since Jul 2011.
AUD/USD bottomed out at 1.0478 but quickly found enough buyers to regain the 1.0500 mark. At time of writing, AUD/USD is trading around 1.0500/05, where it posts a 0.4% loss on the day.
As for technical levels, below 1.0500, Valeria Bednarik, chief analyst at FXstreet.com, sees next supports for the Aussie at 1.0470 and 1.0440, while on the other hand, she locates resistances at 1.0550, 1.0585 and 1.0620.
AUD/USD bottomed out at 1.0478 but quickly found enough buyers to regain the 1.0500 mark. At time of writing, AUD/USD is trading around 1.0500/05, where it posts a 0.4% loss on the day.
As for technical levels, below 1.0500, Valeria Bednarik, chief analyst at FXstreet.com, sees next supports for the Aussie at 1.0470 and 1.0440, while on the other hand, she locates resistances at 1.0550, 1.0585 and 1.0620.