OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/USD moves off lows, still below 0.7200

FXStreet (Córdoba) - AUD/USD is falling for the first time in more than a week but during the last hour it has been able to trim losses.

AUD/USD retreading from 2-week highs

Yesterday the pair peaked at 0.7235, hitting the strongest level since September 18 and started a correction. During today’s Asian session it continued to decline and bottomed at 0.7164.

It tested the lows on European hours but managed to held on top and then turned to the upside. So far it has been unable to regain 0.72. Currently it trades at 0.7195, holding a bullish tone and models lower for the day.

Greenback is losing momentum in the market as commodity prices recover after falling sharply hours ago. Stocks in Wall Street are also moving off session lows.

AUD/USD technical level

To the upside, potential resistance level lie at 0.7200, above here at 0.7215 (daily high) and 0.7235 (Oct 7 high). On the opposite direction support might be located at 0.7165 (daily low), 0.7135 (Sep 17 low) and 0.7100.

WTI off highs, back to $48.30

The barrel of West Texas Intermediate is now easing some ground to the $48.30 area after climbing as highs the boundaries of $48.70 in early trade...
Read more Previous

AUD/USD tough resistance awaits at 0.7280/0.7300 – OCBC

Emmanuel Ng, FX Strategist at OCBC Bank sees the pair facing strong resistance in the 0.7280/0.7300 band...
Read more Next
Start livechat