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2 Apr 2015
AUD/USD trims losses after posting 6-year low
FXStreet (Córdoba) - The Aussie managed to bounce from fresh 6-year lows as the greenback weakened across the board despite better-than-expected US economic readings.
AUD/USD fell to its lowest level since May 2009 at 0.7532 as the knee-jerk reaction to US data, but managed to recover ground and erase intraday losses most recently. At time of writing, the pair is trading at 0.7585, just a few pips below its opening price.
However, the Australian dollar remains under pressure near lows and recording its eighth consecutive daily loss amid growing expectations the RBA might cut rates further when it meets next week.
Next technical supports are now seen at 0.7532 (6-year low Apr 2), 0.7500 (psychological level) and 0.7475 (May 15 2009 low). On the flip side, immediate resistances could be found at 0.7644 (100- hour SMA) and 0.7663 (Apr 1 high).
AUD/USD fell to its lowest level since May 2009 at 0.7532 as the knee-jerk reaction to US data, but managed to recover ground and erase intraday losses most recently. At time of writing, the pair is trading at 0.7585, just a few pips below its opening price.
However, the Australian dollar remains under pressure near lows and recording its eighth consecutive daily loss amid growing expectations the RBA might cut rates further when it meets next week.
Next technical supports are now seen at 0.7532 (6-year low Apr 2), 0.7500 (psychological level) and 0.7475 (May 15 2009 low). On the flip side, immediate resistances could be found at 0.7644 (100- hour SMA) and 0.7663 (Apr 1 high).