OctaFX | OctaFX Forex Broker
Open trading account

AUD/USD hovers near 6-month lows

FXStreet (Córdoba) - AUD/USD is on track to post its fifth consecutive daily loss, having fallen to fresh near 6-month lows as investors seem more focused on US monetary policy than in Australia economic data.

On Thursday, Australia reported a job growth of 121,000 in August, ten times above expectations, but the Aussie failed to rally on the news and quickly resumed its broader decline with every bounce attempt proving anemic.

AUD/USD make a fresh high at 0.9042 in recent dealings and it is currently trading at the 0.9055 area, down 0.48% on the day. The pair is losing nearly 3.5% from Monday’s opening.

Next week, the Federal Reserve will decide on monetary policy and many are betting the forward guidance, that rates will remain low for a considerable time, might be modified.

AUD/USD technical levels

As for technical levels, next supports could be found at 0.9032 (Mar 21 low) and 0.9000 (psychological level). On the other hand, resistances are seen at 0.9107 (intraday high), 0.9182 (200-day SMA) and 0.9216 (post-jobs data high Sept 11).

South Africa Manufacturing Production Index (YoY): -3.6% (July) vs previous 1.4%

Read more Previous

GBP/USD could slip to 1.6200 in 3m – Rabobank

Senior Currency Strategist Jane Foley at Rabobank expects the sterling to head back towards the 1.6200 level in 3m view....
Read more Next
Start livechat