AUD/USD 4-Hour
After falling as low as 0.9779 from its previous close of 0.9827, AUD/USD is now targetting 0.9723 (S1) before hitting a relatively stronger support line at 0.9707 (S2). IB Times

Despite a stronger-than-expected home loans data on Wednesday, the Australian dollar fell against the greenback on the US currency's broad strength.

After falling as low as 0.9779 from its previous close of 0.9827, AUD/USD is now targetting 0.9723 (S1) before hitting a relatively stronger support line at 0.9707 (S2).

At 05:48 GMT, an Aussie dollar was worth 0.9783 of a US dollar, a five-day low for the pair.

Data from Australia this morning showed its home loans grew 1.9 percent in October against the forecast for an unchanged level and comapred with September's rise of 1.1 percent.

Fresh news of North Korean attempt to upset the region probably aided dollar's strength Wednesday in Asian trade.

South Korea said North may have fired artillery shells into its own waters but near the disputed zone, media reports showed.

A profit booking drive on the greenback or some reversal of sentiment into the European session may push the pair back to 0.9852 (R1) and further up, to 0.9852 (R2).

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