6 Jan 2016
AUD/USD falls to fresh 8-week lows
FXStreet (Córdoba) - The Australian dollar continues to underperform against a stronger greenback, as the risk-off sentiment continue to push investors out of risky assets and into safe-havens.
AUD/USD has fallen for three consecutive days, breaking below several support levels to hit an 8-week low of 0.7057 in recent dealings. At time of writing, the pair is trading at 0.7070, still % below its opening price.
On the data front, a series of US data might trigger some reaction in the FX market. During the New York session watch for ADP employment report, factory orders, Markit services PMI and ISM non-manufacturing report ahead of EIA weekly petroleum status report and FOMC minutes in the afternoon.
AUD/USD levels to watch
In terms of technical levels, short-term supports could be found at 0.7057 (Jan 6 low), 0.7015 (Nov 10 low) and 0.7000 (psychological level). On the other hand, resistances are seen at 0.7169 (100-day SMA), 0.7190 (50-day SMA) and 0.7214 (Dec 5 high).
AUD/USD has fallen for three consecutive days, breaking below several support levels to hit an 8-week low of 0.7057 in recent dealings. At time of writing, the pair is trading at 0.7070, still % below its opening price.
On the data front, a series of US data might trigger some reaction in the FX market. During the New York session watch for ADP employment report, factory orders, Markit services PMI and ISM non-manufacturing report ahead of EIA weekly petroleum status report and FOMC minutes in the afternoon.
AUD/USD levels to watch
In terms of technical levels, short-term supports could be found at 0.7057 (Jan 6 low), 0.7015 (Nov 10 low) and 0.7000 (psychological level). On the other hand, resistances are seen at 0.7169 (100-day SMA), 0.7190 (50-day SMA) and 0.7214 (Dec 5 high).