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2 Mar 2015
AUD/USD holds below 0.7800
FXStreet (Córdoba) - AUD/USD came under renewed pressure during the American session after the latest recovery attempt stalled ahead of the 0.78 mark.
AUD/USD resumed the slide following a short-lived bounce, as the dollar strengthened slightly following the latest string of mixed US data. The pair has fallen to a low 0.7765, although the greenback failed to drag the price below European session low of 0.7755. At time of writing, AUD/USD is trading at 0.7767, down 0.58% on the day.
The Australian dollar remains under broad pressure ahead of the RBA meeting tomorrow amid speculation the bank could cut rates again.
AUD/USD short-term technical perspective
Valeria Bednarik, chief analyst at FXStreet notes the pair holds a negative bias, “with scope to extend its decline down to 0.7720 if the daily low (0.7755) gives up”.
Bednarik, locates immediate support levels at 0.7755, 0.7720 and 0.7680, while she sees resistances at 0.7800, 0.7840 and 0.7890.
AUD/USD resumed the slide following a short-lived bounce, as the dollar strengthened slightly following the latest string of mixed US data. The pair has fallen to a low 0.7765, although the greenback failed to drag the price below European session low of 0.7755. At time of writing, AUD/USD is trading at 0.7767, down 0.58% on the day.
The Australian dollar remains under broad pressure ahead of the RBA meeting tomorrow amid speculation the bank could cut rates again.
AUD/USD short-term technical perspective
Valeria Bednarik, chief analyst at FXStreet notes the pair holds a negative bias, “with scope to extend its decline down to 0.7720 if the daily low (0.7755) gives up”.
Bednarik, locates immediate support levels at 0.7755, 0.7720 and 0.7680, while she sees resistances at 0.7800, 0.7840 and 0.7890.