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AUD/USD remains capped by 0.7150 area

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - AUD/USD managed to resume the advance on Friday and retested post Australian employment data highs, but once again faced resistance at the 0.7150 area.

    The Australian dollar was supported by a broad recovery in commodities, and it is on track to post its third daily gain in a row, although the 0.7150 area continues to offer resistance. At time of writing, the pair is trading at 0.7140, 0.22% above its opening price, as market focus now turns to US retail sales and producer price index data.

    AUD/USD technical levels

    As for technical levels, if AUD/USD breaks decisively above 0.7153 (Nov 12 & 13 high/21-day SMA), next resistances could be found at 0.7223 (Nov 4 high) and 0.7236 (100-day SMA). On the other hand, supports are seen at 0.7119 (Nov 13 low), 0.7059 (Nov 12 low) and 0.7015 (Nov 10 low).
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