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Forex: AUD/USD holding the fall above 1.0350

FXstreet.com (Barcelona) - Aussie has dipped against USD today in early Asia-Pacific from previous Friday's weekly close above the 1.04 mark, last at 1.0354, off 1.0341 session lows, on the back of market fears from Cyprus bail-out news coming out of the EU. The pair is down -0.51% for the day so far, while local share markets are selling off on this new risk-off mode. Oil is down to fresh session/2-day lows around the $92 mark, while Gold spiked above the $1.6k figure, highest in last 3 weeks.

According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The pair has the downside protected with buying interest aligned in the 1.0300/30 price zone, while short term sellers may show around 1.0410 price zone,” the analyst suggests, expanding: “Above this last, the bullish momentum may resume, with 1.0500 at sight. On the other hand, if local share markets start falling, the pair will have a hard time to regain ground, and probably approach to mentioned support area,” she concludes.

Valeria locates support levels at: 1.0330, 1.0300 and 1.0265, while resistance levels at: 1.0410, 1.0440 and 1.0490.

Cyprus likely to extend bank holidays on Tuesday and Wednesday

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