AUD/USD cracks to 20-day lows, manages to rebound

FXstreet.com (Chicago) – AUD/USD plunged to 20-day lows at 0.8926 to rebound and struggle as heavy sell-off on potential US strike preoccupies market participants.

High pressure, stronger dollar

Losing 0.41% so far, the Aussie remains under pressure as risk aversion lingers across the markets. Most equity markets closed down on Tuesday’s session with sizeable losses.

AUD/USD technical levels

Technically speaking, the pair trades at 0.8948 between supports at 0.8944 (August 21st lows), 0.8920 (August 7th lows) ahead of 0.8888 (August 2nd lows) and resistances at 0.8991 (August 23rd lows), 0.9024 (August 19th lows) followed by 0.9056 (August 21st highs). According …read more