AUDUSD goes down, concerns grow

Australlian dollar

The global concerns continued to go deeper after the Aussie was quietly traded lower against its American companion on Monday. Investors impatiently expected the U.S. economic data later in the day.

AUDUSD reached the level 1.0345 during the European morning trade, which could be considered as daily low. The currency pair remained stable at 1.0346.

AUDUSD will probably find support level at 1.0318, which is the bottom from October 19 and resistance at 1.0412, the highest level of October 18.

Investors were acting carefully, because there was no indication on whether Spain will ask a bailout from its Eurozone partners, which would lead to a bond buying program by the European Central Bank.

In the same time, some doubts appeared whether Greece could be able to meet austerity targets required by the troika mounted after the country’s opposition leaders said his party would vote against an austerity package awaited to go before parliament later this week.

Today, trading activity is expected to remain thin, due to the first surprised, market-wide shut down since September 2001 when Hurricane Sandy hit the northeastern America.

The Australian dollar was steady against the euro with EURAUD reaching the level 1.2472.

Later today, the America is expected to expose government data on personal income, personal spending and core consumer inflation.

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