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AUD/USD falls toward 0.7200

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - AUD/USD came under renewed pressure and posted fresh daily lows as the greenback strengthened slightly at the beginning of the American session.

    AUD/USD broke below the 0.7230 zone and slid to a fresh daily low of 0.7212 before finding support. At time of writing, the pair is trading at 0.7218, recording a 0.33% loss on the day, having reversed Asian session gains.

    From a wider view, AUD/USD is staging a pullback from the 0.7360 zone, which has capped the recovery from multi-year lows over the last weeks.

    AUD/USD technical levels

    In terms of technical levels, immediate supports are seen at 0.7188 (100-day SMA), 0.7159 (Dec 14, Nov 23 lows) and 0.7102/00 (Nov 19 low/psychological level). On the flip side, resistances could be faced at 0.7280/82 (Dec 11 & 15 highs), 0.7334/40 (Dec 10 & 7 highs), 0.7385 (Dec 4 high) and then 0.7400 (psychological level).

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