Quantcast

AUD/USD bounces from 3-week low

FXstreet.com (Córdoba) – The AUD/USD is falling for third day on a row this Wednesday, weighed mainly by the cautious mood that prevails in financial markets.

However, AUD/USD has managed to stage a bounce from a 3-week low of 0.8890 and to trim some losses at the beginning of the New York session, following worse-than-expected US housing data. At time of writing, AUD/USD is trading at the 0.8940 zone, still 0.4% below its opening price.

AUD/USD maintains the bearish tone

From a technical perspective, AUD/USD maintains a strong bearish tone according to technical readings both in 1 and 4 hours chart, …read more