FXstreet.com (Córdoba) - The Australian Dollar is falling for the third consecutive day against the Dollar accumulating a decline of more than a 150 pips. AUD/USD tumbled to 0.9050 reaching a fresh one-week low. The Aussie was affected by the decline in gold that bottomed so far today at $1,135 an ounce, the lowest price since November 20. AUD/USD rebounded at 0.9050 and rose to test levels above 0.9100. Currently trades at 0.9096/99, 0.37% below today's opening price.
The Kshitij Consultancy Service Team affirms: The 13-Week MA (currently at 0.9025) is the next significant Support level seen below the 55-DMA. A break below this 13-Week MA might increase the chances of further dip towards 0.8900-0.8880 in the coming days. Any sharp upmove is not looking likely now as the pair is trading strong on the downside and we might expect the Resistance at 0.9220 to hold in the US session today if any sharp upmove above 0.9100 is seen.