Forex: AUD/USD pauses the bleeding above 1.0240 (Barcelona) - AUD/USD has tumbled Wednesday more than -1.23% from peak to bottom, last at 1.0260, down -0.43% for the week so far. The pair chases gold and equities, that suffered massive sell offs following latest FOMC meeting minutes, in which was indicated stimulus policies may come to an end. Aussie went straight from a double weekly high at 1.0368 printed by late Asian session yesterday, to fresh weekly lows by late NY at 1.0237, without any significant retracement.

According to Valeria Bednarik, Chief Analyst at, AUD/USD is “Extremely oversold in the short term,” she says, noting “technical indicators point for an upward corrective movement, although price holds steady near the lows. Buying is not an option even against the trend: approaches to the 1.0270 area if correction actually takes place, should be taken as selling opportunities, as well as an acceleration below 1.0225, past week low,” the analyst suggests.

Valeria finds support levels at: 1.0225, 1.0190 and 1.0160, while resistance levels at: 1.0270, 1.0300 and 1.0330.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.