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AUD/USD extends decline below 0.7550

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    AUD/USD dropped further after the begging of the American session and printed a fresh 6-day low at 0.7535, amid a stronger US dollar across the board.

    The pair spiked to 0.7647 during the Asian session but then turned to the downside and accelerated under 0.7600. Recently printed a fresh low and it was trading at 0.7540, 80 pips below yesterday’s closing price. The aussie is having the worst performance against the US dollar since late February.

    Greenback is rising across the board while stocks are falling in Europe and in the US. The Dow Jones was losing 0.28% and the Nasdaq was down 0.80%. In Europe, the FTSE 100 was about to end in negative with a decline of 0.20% while the worst was Spain’s IBEX 35, that was losing 1.15%.

    AUD/USD technical levels


    To the upside, resistance levels might be located at 0.7565 (March 21 low), 0.7600 (psychological / 20-hour moving average) and 0.7645/50 (daily high). On the opposite direction, support could be seen at 0.7535 (daily low), 0.7475/80 (March 7 high) and 0.7440/45 (Mar 4 high / Mar 15 low).
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