10 Feb 2015
AUD/USD extends decline to 0.7750
FXStreet (San Francisco) - The Aussie is trading lower against the US Dollar following oil declines and after falling 50 pips from 0.7800, the pair is testing now the 0.7750 area.
The AUD/USD advanced in the Asian session from 0.7800 to test intraday highs at 0.7840; however the pair found selling interest at this level and sent it back to current levels. Currently, AUD/USD is trading at 0.7761, down 0.62% on the day, having posted a daily high at 0.7844 and low at 0.7755.
The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.
AUD/USD levels
If the pair breaks below 0.7750, it will find next supports at 0.7730 and 0.7700. To the upside, resistances are at 0.7800, 0.7815 and 0.7840.
Oil is declining on Tuesday after three positive days. The WTI broke below the S1 and currently is pricing at $50.90.
On the other hand, China's trade balance and its weak domestic demand could be affecting AUD as China is the Australia's first exportation partner.
The AUD/USD advanced in the Asian session from 0.7800 to test intraday highs at 0.7840; however the pair found selling interest at this level and sent it back to current levels. Currently, AUD/USD is trading at 0.7761, down 0.62% on the day, having posted a daily high at 0.7844 and low at 0.7755.
The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.
AUD/USD levels
If the pair breaks below 0.7750, it will find next supports at 0.7730 and 0.7700. To the upside, resistances are at 0.7800, 0.7815 and 0.7840.
Oil is declining on Tuesday after three positive days. The WTI broke below the S1 and currently is pricing at $50.90.
On the other hand, China's trade balance and its weak domestic demand could be affecting AUD as China is the Australia's first exportation partner.