11 May 2015
AUD/USD steadies around 0.7900
FXStreet (Córdoba) - AUD/USD managed to climb back above 0.7900 and steadied around the psychological level, after dropping half a cent during the Asian session.
AUD/USD bottomed out at 0.7875 and began a corrective move. However, the upside remained capped by the 0.7920 zone, confining the pair to a phase of consolidation. At time of writing, AUD/USD is trading at 0.7905, still 0.25% down on the day.
The PBoC cut lending and deposit rates by 25bps to 5.1% and 2.25% respectively, but market response has been limited.
AUD/USD technical levels
In terms of technical levels, immediate resistances are now seen at 0.7921 (session high), 0.7934 (100-hour SMA) and 0.7965 (May 8 high). On the downside, supports could be found at 0.7875 (daily low), 0.7863 (May 8 low) and 0.7825 (21-day SMA).
AUD/USD bottomed out at 0.7875 and began a corrective move. However, the upside remained capped by the 0.7920 zone, confining the pair to a phase of consolidation. At time of writing, AUD/USD is trading at 0.7905, still 0.25% down on the day.
The PBoC cut lending and deposit rates by 25bps to 5.1% and 2.25% respectively, but market response has been limited.
AUD/USD technical levels
In terms of technical levels, immediate resistances are now seen at 0.7921 (session high), 0.7934 (100-hour SMA) and 0.7965 (May 8 high). On the downside, supports could be found at 0.7875 (daily low), 0.7863 (May 8 low) and 0.7825 (21-day SMA).