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AUD/USD continues to fail at 0.8920/30, weaker rejections

FXstreet.com (Barcelona) – AUD/USD was supported by bids at 0.8920/30 following a third test off the level since recovering from its bear trend lows last Aug 2nd, with the pair developing a consolidation pattern now.

Risk is still to the downside on the Aussie

Neither technicals nor fundametals are providing much support to the Australian Dollar. While the latest chatter of an imminent US-led intervention in Syria saw risk-off sentiment dominate, the pair proved quite resilient to let 0.8920/30 go. On a more technical note though, one should notice that the angle of each rejection off critical 0.8930/30 is getting …read more