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AUD/USD testing support at 200-hour SMA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - Currencies linked to commodities are on the defensive on Monday, with the Australian dollar among the worst performers against a generally steady greenback as investors continue to digest Friday’s jobs report.

    AUD/USD
    was rejected from a fresh 3 ½-month high of 0.7385 on Friday and has lost more than 100 pip ever since, falling to a low of 0.7272, where the 200-hour SMA offered support. At time of writing, the pair is trading at 0.7278, recording a 0.80% loss on the day.

    AUD/USD levels to watch


    As for technical levels, next supports are seen at the 0.7272 zone (Dec 3 low/200-hour SMA), 0.7221 (Dec 1 low) and 0.7200/0.7195 (psychological level/100-day SMA). On the flip side, resistances could be faced at 0.7340 (Dec 7 high), 0.7385 (Dec 4 high) and 0.7438 (Nov 8 high).
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