AUD/USD moves toward 1-month low

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The Australian dollar failed to retain intraday gains versus the greenback and fell to the bottom of its recent range, with AUD/USD on track to retest 1-month lows.

    AUD/USD came under pressure at the beginning of the American session and dropped to a daily low of 0.7028, just a few pips above its post-nonfarm payrolls low of 0.7022. At time of writing, the pair was trading at 0.7035, still 0.13% below its opening price.

    On the data front, US import/export prices index came in soft but in line with expectations, barely affecting the USD. Next on tap, US wholesale inventories data is due at 15:00 GMT.

    AUD/USD technical levels

    In terms of technical levels, AUD/USD could face next supports at 0.7022 (post-NFP low Nov 6), 0.7002/0.6997 (Oct 2 & 1 lows) and 0.6936 (Sep 29 low). On the other hand, resistances are seen at 0.7069 (Nov 9 high), 0.7100 (psychological level) and 0.7128 (50-day SMA).
    For more information, read our latest forex news.

Share This Page

free forex signals