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14 May 2015
AUD/USD drops back below 0.8100
FXStreet (Córdoba) - In contrast with Wednesday when AUD ended the day among the best performers currencies, the Aussie is lagging on Thursday after being rejected from the 0.8160 area.
AUD/USD turned lower after hitting its highest level since January aty 0.8162 and dropped all the way toward a low of 0.8062 before finding support. However, the subsequent bounce was capped by the 0.8135 zone, putting the pair back on the defensive. At time of writing, AUD/USD is trading at 0.8085, 0.32% below its opening price.
The strong rise of the AUD this week was supported by broad USD weakness and follows the Australian government budget on Tuesday, which focused on job creation and support for business.
AUD/USD levels to watch
In terms of technical levels, immediate resistances are seen at 0.8162 (daily low), 0.8200 (psychological level) and 0.8233 (Jan 21 high). On the other hand, supports could be found at 0.8062 (daily low), 0.8000 (psychological level) and 0.7948 (May 13 low/10-day SMA).
AUD/USD turned lower after hitting its highest level since January aty 0.8162 and dropped all the way toward a low of 0.8062 before finding support. However, the subsequent bounce was capped by the 0.8135 zone, putting the pair back on the defensive. At time of writing, AUD/USD is trading at 0.8085, 0.32% below its opening price.
The strong rise of the AUD this week was supported by broad USD weakness and follows the Australian government budget on Tuesday, which focused on job creation and support for business.
AUD/USD levels to watch
In terms of technical levels, immediate resistances are seen at 0.8162 (daily low), 0.8200 (psychological level) and 0.8233 (Jan 21 high). On the other hand, supports could be found at 0.8062 (daily low), 0.8000 (psychological level) and 0.7948 (May 13 low/10-day SMA).