17 Jun 2015
AUD/USD's decline contained at 0.7660; back to 0.7700
FXStreet (Barranquilla) - The Australian Dollar found support at 0.7670 against the US Dollar after falling around 85 pips from the 0.7755 priced in the Asian session. AUD/USD dropped on the back of commodity prices and iron ore falling to near all time lows.
Currently, AUD/USD is trading at 0.7691, down 0.76% on the day, having posted a daily high at 0.7759 and low at 0.7670. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
AUD/USD Forecast
As the AUDUSD Forecast Poll reported earlier this week, "despite recent good data in Australia, experts don't see too much bullishness in the AUD/USD."
According to Austin Galt from The Voodoo Analyst, the pair is "looking for one final marginal false break low around 75c before big bear rally." In addition, Yohay Elam from ForexCrunch affirms that "the RBA would like a weaker Aussie and could get help from the US."
AUD/USD levels
If the pair manages to extend recovery above 0.7700, it will find resistances at 0.7720 and 0.7770. To the downside, supports are at 0.7670, 0.7650 and 0.7635.
Currently, AUD/USD is trading at 0.7691, down 0.76% on the day, having posted a daily high at 0.7759 and low at 0.7670. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
AUD/USD Forecast
As the AUDUSD Forecast Poll reported earlier this week, "despite recent good data in Australia, experts don't see too much bullishness in the AUD/USD."
According to Austin Galt from The Voodoo Analyst, the pair is "looking for one final marginal false break low around 75c before big bear rally." In addition, Yohay Elam from ForexCrunch affirms that "the RBA would like a weaker Aussie and could get help from the US."
AUD/USD levels
If the pair manages to extend recovery above 0.7700, it will find resistances at 0.7720 and 0.7770. To the downside, supports are at 0.7670, 0.7650 and 0.7635.