AUD/USD back below 0.7100

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The Australian dollar is underperforming Wednesday against a somewhat weaker US currency as investors await the release of FOMC meeting minutes later on the day.

    AUD/USD pulled back from a peak of 0.7139 scored the previous day, but was supported by the 0.7090 area, confining the pair to a narrow range over the last hours that in fact prolongs the consolidative pattern seen this week.

    At time of writing, AUD/USD is trading at 0.7095, recording a 0.21% loss on the day in a rather quiet session.

    AUD/USD technical levels

    As for technical levels, AUD/USD could find next supports at 0.7071 (Nov 17 low), 0.7059 (Nov 12 low), 0.7015 (Nov 10 low) and 0.6997 (Oct 1 low). On the flip side, resistances are seen at 0.7142 (50-day SMA), 0.7158 (Nov 13 high) and 0.7223 (Nov 4 high).
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