AUD/USD clings to gains above 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) - AUD/USD is about to end the day posting a mild gain, as commodity currencies showed some resilience to greenback strength on Tuesday.

    AUD/USD rallied during the European session helped by a comeback in copper prices, although the upside remained capped by the 50-day SMA at the 0.7140 zone, confining the Aussie to a phase of consolidation. At time of writing, the pair is trading at 0.7119, still up 0.34% on the day.

    AUD/USD levels to watch

    In terms of technical levels, next resistances are seen at 0.7139 (50-day SMA/Nov 17 high), 0.7158 (Nov 13 high) and 0.7223 (Nov 4 high). On the other hand, supports could be faced at 0.7072 (Nov 17 low), 0.7059 (Nov 12 low) and 0.7015 (Nov 10 low).
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