26 May 2015
AUD/USD testing lows ahead of 0.78
FXStreet (Mumbai) - The Australian dollar wipes out gains and fell back into the negative territory versus the US dollar in the European morning, sending AUD/USD closer towards 0.78 handle. The Aussie pared moderate gains from Asia and edged lower largely not the back a sudden bout of US dollar buying as markets enter a data-dry European session.
AUD/USD drops from 0.7830
Currently, the AUD/USD pair trades -0.17% lower at fresh session lows of 0.7809, retreating from 0.7840 highs. AUD/USD slipped in red after the US dollar regained momentum and jumped to fresh monthly highs against its major competitors with the DXY spiking to the tune of 0.51% to trade at 96.96.
The US dollar climbed higher against the Australian dollar in anticipation of an extended recovery in the durable goods orders due to be released later today ahead of Friday’s US Q1 GDP data.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7840 (Today’s High) levels, above which gains could be extended to 0.7874 (April 27 High) levels. On the flip side, support is seen at 0.7800 levels from here it to 0.7762 (April 24 Low) levels.
AUD/USD drops from 0.7830
Currently, the AUD/USD pair trades -0.17% lower at fresh session lows of 0.7809, retreating from 0.7840 highs. AUD/USD slipped in red after the US dollar regained momentum and jumped to fresh monthly highs against its major competitors with the DXY spiking to the tune of 0.51% to trade at 96.96.
The US dollar climbed higher against the Australian dollar in anticipation of an extended recovery in the durable goods orders due to be released later today ahead of Friday’s US Q1 GDP data.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7840 (Today’s High) levels, above which gains could be extended to 0.7874 (April 27 High) levels. On the flip side, support is seen at 0.7800 levels from here it to 0.7762 (April 24 Low) levels.