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AUD/USD remains capped by 0.7200

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    AUD/USD eased from highs over the last hours after the daily advance found resistance a few pips ahead of the 0.7200 level.

    The Australian dollar was underpinned by the risk-on environment and RBA decision to leave policy unchanged, while keeping a neutral stance on rates. AUD/USD climbed to a high of 0.7192 but was rejected but the subsequent pullback contained by the 0.7130 zone. At time of writing, the pair is trading at 0.7162, still 0.32% above its opening price.

    AUD/USD levels to watch

    In terms of technical levels, next resistances are seen at 0.7191 (Mar 1 high), 0.7261 (200-day SMA) and 0.7300 (Jan 4 high/psychological level). On the other hand, supports could be faced at 0.7108/01 (Mar 1 low/50-day SMA), 0.7068 (Feb 19 low) and 0.7037 (Feb 10 low).
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