AUD/USD breaks below 0.7100

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - AUD/USD has continued to back away from last Friday’s high and turned negative for the day as the greenback benefitted from the risk-off mood.

    AUD/USD failed to advance beyond the 0.7130 level and came under pressure during the European session, having lost the 0.71 mark to hit fresh daily lows at 0.7086 in recent dealings. At time of writing, the pair is trading at 0.7090, down 0.52% on the day.

    AUD/USD technical levels

    As for technical levels, AUD/USD could find next supports at 0.7059 (Nov 12 low), 0.7015 (Nov 10 low) and 0.6997 (Oct 1 low). On the flip side, resistances are seen at 0.7138 (50-day SMA), 0.7158 (Nov 13 high) and 0.7223 (Nov 4 high).
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