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AUD/USD holds above 0.7200

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - The Australian dollar is trading a bit softer on Thursday in a day marked by low volume due to the US Thanksgiving holiday.

    AUD/USD has continued to pullback from a 1-month high of 0.7282 scored on Wednesday, having lost more than half a cent over the last sessions before the slide was contained by the 0.7210 area. At time of writing, the pair is trading at 0.7222, down 0.39% on the day.

    With no first-tier data scheduled for the rest of the day and with US markets closed, trading is expected to remain subdued with pairs consolidating within familiar ranges.

    AUD/USD technical levels

    In terms of technical levels, AUD/USD could find next supports at 0.7203/00 (100-day SMA/psychological level), 0.7184 (Nov 24 low) and 0.7158 (Nov 23 low). On the other hand, resistances are seen at 0.7282 (Nov 25 high), 0.7295 (Oct 23 high) and 0.7337 (Oct 16 high).
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