AUD/USD falls to 1-month lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - AUD/USD came under renewed pressure at the beginning of the American session and broke below the 0.7160 support zone as the greenback continues to strengthen following Fed’s decision to hike rates for first time in almost a decade.

    Following a bounce attempt that was capped by the 0.7215 area, AUD/USD turned lower and having dropped more than 70 pips over the last hours it bottomed out at 0.7136, last seen Nov 19. At time of writing, the pair is trading at 0.7144, 1.15% below its opening price.

    AUD/USD technical levels

    In terms of technical levels, immediate supports are seen at 0.7102/00 (Nov 19 low/psychological level) and 0.7068 (Nov 18 low). On the other hand, next resistances could be faced at 0.7245 (Dec 17 high), 0.7280/82 (Dec 11 & 15 highs) and 0.7334/40 (Dec 10 & 7 highs).

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