AUD/USD fails to hold above 0.7100

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    AUD/USD failed to consolidate above the 0.7100 level and pulled back at the beginning of the New York session as the dollar recovered ground across the board following Fed's Yellen testimony before the Congress.

    AUD/USD fell nearly half a cent, retracing most of its intraday gains, and hit a session low of 0.7067 in recent dealings. At time of writing, the pair is trading at 0.7077, still 0.14% above its opening price.

    AUD/USD levels to watch

    As for technical levels, AUD/USD could find immediate supports at 0.7025 (20-day SMA), 0.6973 (Feb 9 low) and 0.6918 (Jan 26 low). On the other hand, short-term resistances are seen at 0.7125 (Feb 10 high/50-day SMA), 0.7140 (100-day SMA) and 0.7217 (Feb 5 high).
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