Forex: AUD/USD: Aussie turned down at 0.8335 to retreat to 0.8165 low

FXstreet.com (Barcelona) - Australian dollar rally from Jul 13 low at 0.7700 was capped yesterday at 0.8335, and the pair fell during Asian and U.S. sessions to 0.8165 low, before attempting a recovery, reaching levels right above 0.8200 at the time of writing.

According to the E-Forex Team, the pair remain bullish on the short-term and extended losses are a good buying opportunities: "Downside is likely to remain under pressure until reaching a decent support level and that could be .8150 or .8070, lower. Short term sentiment remains bullish while intraday studies are bearish and extended losses to lower levels will be good buying opportunities."

Resistance levels, according to the E-Forex team lie at 0.8250/60,and above there, 0.8335/50 and 0.8380. On the downside, support levels lie at 0.8180/85, and in case of further decline, 0.8150 and 0.8070.