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AUD/USD attempts to regain 0.7000

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - AUD/USD has continued to move away from a 4-month low scored on Monday, underpinned by the improvement in risk appetite.

    AUD/USD climbed above the 0.70 mark, although the Aussie is having a hard time trying to extend gains or consolidate above that level. Having scored a daily peak of 0.7015, AUD/USD is currently trading at 0.7005, still up 0.17% on the day.

    The key data release for the AUD is Thursday’s Australian employment report, where consensus expects a 10,000 job loss for Dec from a 71,400 gain the previous month.

    AUD/USD levels to watch

    In terms of technical levels, AUD/USD could find immediate resistances at 0.7035 (Jan 11 high), 0.7075 (Jan 8 high) and 0.7155 (100-day SMA). On the flip side, supports are seen at 0.6926 (Jan 11 low) and 0.6908 (Sep 4 low). If the pair breaks below that level, it will be trading at its lowest since March 2009.
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