FXstreet.com (Barcelona) - The Australian Dollar prolonnged rally took a hold on Wednesday, as poor CPI data, up 0.7% in Q3, caught bulls off guard, escaping the bearish tide triggered by the news. Since a failed attempt to parity on Monday, the Aussie upside momentum has stalled, as selling pressure gains further momentum.
The Australian plummeted more than 100 pips against the US Dollar, hitting a fresh 1-week low at 0.9750, where the pair found strong support. Regardless the reliable barrier, at the moment of writing the fall looks set to continue as price just reached 0.9745. Support levels: 0.9800 0.9770 0.9730, Resistance levels: 0.9865 0.9890 0.9930.
The Australian plummeted more than 100 pips against the US Dollar, hitting a fresh 1-week low at 0.9750, where the pair found strong support. Regardless the reliable barrier, at the moment of writing the fall looks set to continue as price just reached 0.9745. Support levels: 0.9800 0.9770 0.9730, Resistance levels: 0.9865 0.9890 0.9930.
