AUD/USD retests daily lows after US data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - AUD/USD fell to retest daily lows at the beginning of the American session as the Aussie failed to capitalize another round of disappointing US data.

    Orders for durable goods in the United States declined a seasonally adjusted 1.2% in September versus a fall of 1.1% expected. August durable goods orders dropped a revised 3% from 2.3% previously estimated. Meanwhile, excluding transportation orders fell 0.4% versus 0.0% expected.

    However, AUD/USD was unable to regain the 0.7250 zone and turned lower instead. At time of writing, the pair is trading at 0.7229, recording a 0.23% loss on the day.

    AUD/USD levels to watch

    In terms of technical levels, next supports are seen at 0.7211 (20-day SMA), 0.7158 (50.0% Fibo retracement of 0.6939/0.7381) and 0.7106 (61.8% Fibo retracement of 0.6939/0.7381) . On the other hand, resistances line up at 0.7269 (Oct 26 high), 0.7295 (Oct 23 high) and 0.7319 (100-day SMA).
    For more information, read our latest forex news.

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