Back
19 Mar 2015
AUD/USD testing lows below 0.7735
FXStreet (Mumbai) - AUD/USD pared overnight gains and fell back on the 0.77 handle in the Asian session, mainly driven by a rebound in the US dollar, as traders continue to digest the implications of last night's FOMC statement.
AUD/USD bounces-off 0.7800
Currently, the AUD/USD trades lower by -0.49% at fresh session lows at 0.7735. The AUD/USD pair wiped out previous gains and slipped back in to losses as the Australian dollar couldn't keep up its more-than 2% gains against the greenback on dovish FOMC statement.
Also, the US dollar recovered more than half its slide and regained 98 barrier as traders booked profits on their USD shorts after yesterday’s FOMC statement and proceeding press conference contained much in the way of surprises, which was reflected starkly in the currency markets.
Moreover, a strong recovery in gold, silver and copper prices also failed to lifted the Aussie, keeping a check on the upside in the prices.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7800 levels, above which gains could be extended to 0.7845 (March 18 High) levels. On the flip side, support is seen at 0.7700 levels from here it to 0.7641 levels.
AUD/USD bounces-off 0.7800
Currently, the AUD/USD trades lower by -0.49% at fresh session lows at 0.7735. The AUD/USD pair wiped out previous gains and slipped back in to losses as the Australian dollar couldn't keep up its more-than 2% gains against the greenback on dovish FOMC statement.
Also, the US dollar recovered more than half its slide and regained 98 barrier as traders booked profits on their USD shorts after yesterday’s FOMC statement and proceeding press conference contained much in the way of surprises, which was reflected starkly in the currency markets.
Moreover, a strong recovery in gold, silver and copper prices also failed to lifted the Aussie, keeping a check on the upside in the prices.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7800 levels, above which gains could be extended to 0.7845 (March 18 High) levels. On the flip side, support is seen at 0.7700 levels from here it to 0.7641 levels.