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AUD/USD remains capped by 0.7200

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - AUD/USD managed to find support and recovered slightly from lows as the greenback lost momentum following a firm start to the week.

    AUD/USD fell to a low of 0.7158 during the Asian session and following a consolidative phase near the bottom, it picked up pace and advanced to the 0.7200 area. However, with the bounce limited by 0.7204, the pair is currently trading at 0.7185, still down 0.70% on the day.

    AUD/USD levels to watch


    As for technical levels, AUD/USD could find next resistances at 0.7249 (Nov 20 high), 0.7258 (Oct 27 high) and 0.7295 (Oct 23 high). On the flip side, supports could be found at 0.7148 (50-day SMA), 0.7102 (Nov 19 low) and 0.7068 (Nov 18 low).
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