AUD/USD falters ahead of 100-DMA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Australian dollar managed to recoup most of yesterday’s losses versus the greenback, having benefited by gains in equity markets and better risk sentiment.

    AUD/USD climbed more than half a cent throughout the day and reached a high of 0.7138 during the European session. However, the pair failed to extend its recovery past that level and it has spent the last hours in a slim range just below as investors attention turns to the FOMC minutes to be released later on the day.

    AUD/USD levels to watch

    At time of writing, AUD/USD is trading at 0.7120, still up 0.15% on the day, with immediate resistances seen at 0.7145 (100-day SMA), 0.7181 (Feb 16 high) and 0.7217 (Feb 5 high). On the other hand, supports could be found at 0.7077 (20-day SMA), 0.7062 (Feb 12 low) and 0.7037 (Feb 10 low).
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