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AUD/USD extends pullback, but holds above 0.7500

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Australian dollar remains on the back foot on Thursday, having retraced completely previous day's gains against the greenback as the the risk-off sentiment returned to financial markets, with global equities also on the defensive.

    pulled back from an Asian session high of 0.7637 and dropped more than a hundred pips before finding support at the 0.7520 zone. At time of writing, the pair was trading at 0.7540, recording a 0.76% loss on the day.

    AUD/USD technical levels

    In terms of technical levels, AUD/USD could find immediate supports at 0.7509 (Apr 5 low), 0.7476 (Mar 24 low) and 0.7414 (Mar 16 low). On the flip side, resistances are seen at 0.7637 (Apr 7 high), 0.7678 (Apr 4 high) and 0.7720 (Mar 31 high).
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