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AUD/USD trims intraday losses

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    AUD/USD bounced from daily lows and managed to trim intraday losses during the European session despite the continued selloff in global equities.

    AUD/USD fell more than 150 pips from Asian session peak to a low of 0.6983 before finding support and staging a mild comeback. At time of writing, the pair is trading at 0.7080, 0.18% below its opening price.

    AUD/USD levels to watch


    As for technical levels, the pair could find immediate resistances at 0.7140 (100-day SMA), 0.7152 (Feb 11 high), 0.7217 (Feb 5 high) and 0.7242 (Feb 4 high). On the flip side, supports are seen at the 0.6983/73 zone (Feb 11 & 9 lows) and 0.6918 (Jan 26 low).

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