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22 Nov 2013
AUD/USD resists above 0.9150
FXstreet.com (Córdoba) - The AUD/USD extended losses into a third consecutive day Friday after being rejected from a 2-week high of 0.9447 Wednesday, weighed by Fed minutes and RBA jawboning.
RBA Governor Stevens highlighted Thursday the bank could use intervention to weaken the AUD having said repeatedly that a strong currency could be harmful for the economy. The AUD/USD broke below yet another psychological level during the European session and printed a 2 ½-month low of 0.9153.
AUD/USD prints fifth weekly loss in a row
At time of writing, AUD/USD is trading at the 0.9160 zone, 0.8% lower on the day. The Australian dollar is on track to post its fifth weekly loss in a row, having dropped almost 600 pips from late Oct highs.
RBA Governor Stevens highlighted Thursday the bank could use intervention to weaken the AUD having said repeatedly that a strong currency could be harmful for the economy. The AUD/USD broke below yet another psychological level during the European session and printed a 2 ½-month low of 0.9153.
AUD/USD prints fifth weekly loss in a row
At time of writing, AUD/USD is trading at the 0.9160 zone, 0.8% lower on the day. The Australian dollar is on track to post its fifth weekly loss in a row, having dropped almost 600 pips from late Oct highs.