25 Mar 2015
AUD/USD accelerates losses below 0.7860
FXStreet (Mumbai) - AUD/USD erased previous gains and turned in red in the early European session, mainly driven by losses in its OZ counterpart after worse than expected trade balance data knocked-off the kiwi.
AUD/USD breaks below key support at 0.7860
Currently, the AUD/USD trades lower by -0.25% at fresh session lows of 0.7857 levels. The Aussie fell back in red and remains near lows largely on the back of heavy losses seen in NZD/USD following downbeat NZ trade surplus data.
The Aussie extends losses and is on its way to test 5-DMA located at 0.7840 levels below a break of crucial support at 0.7860 levels. Also, a better than expected US consumer durable goods orders figures later in the day may boost the US dollar, dragging AUD/USD lower.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7891 (Today’s High) levels, above which gains could be extended to 0.7940 levels. On the flip side, support is seen at 0.7840 (5-DMA) levels from here it to 0.7800 levels.
AUD/USD breaks below key support at 0.7860
Currently, the AUD/USD trades lower by -0.25% at fresh session lows of 0.7857 levels. The Aussie fell back in red and remains near lows largely on the back of heavy losses seen in NZD/USD following downbeat NZ trade surplus data.
The Aussie extends losses and is on its way to test 5-DMA located at 0.7840 levels below a break of crucial support at 0.7860 levels. Also, a better than expected US consumer durable goods orders figures later in the day may boost the US dollar, dragging AUD/USD lower.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7891 (Today’s High) levels, above which gains could be extended to 0.7940 levels. On the flip side, support is seen at 0.7840 (5-DMA) levels from here it to 0.7800 levels.