17 Jun 2014
AUD/USD resumes fall, fresh 1-week lows
FXStreet (Córdoba) - The AUD/USD resumed the slide and hit fresh weekly lows at the beginning of the American session as the greenback strengthened on the back of higher than expected inflation numbers.
US consumer inflation index rose 2.1% YoY in May, while core CPI hit 2.0%, matching the Fed target. Higher inflation pressures, if sustained, could lead the Fed to raise rates sooner than expected.
The AUD/USD came under renewed pressure and dropped to a fresh 1-week low of 0.9329 in recent dealings after the latest bounce attempt was capped by the 0.9365 area. At time of writing, the Aussie is trading at the 0.9335 zone, recording a 0.69% loss on the day.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could face next support levels at 0.9320/18 (50-day SMA/Jun 6 low), 0.9305 (21-day SMA) and then 0.9257 (Jun 5 low). On the other hand, resistances could be found at 0.9415 (Jun 16 high), 0.9436 (Jun 12 high) and 0.9460 (Apr 10 high).
US consumer inflation index rose 2.1% YoY in May, while core CPI hit 2.0%, matching the Fed target. Higher inflation pressures, if sustained, could lead the Fed to raise rates sooner than expected.
The AUD/USD came under renewed pressure and dropped to a fresh 1-week low of 0.9329 in recent dealings after the latest bounce attempt was capped by the 0.9365 area. At time of writing, the Aussie is trading at the 0.9335 zone, recording a 0.69% loss on the day.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could face next support levels at 0.9320/18 (50-day SMA/Jun 6 low), 0.9305 (21-day SMA) and then 0.9257 (Jun 5 low). On the other hand, resistances could be found at 0.9415 (Jun 16 high), 0.9436 (Jun 12 high) and 0.9460 (Apr 10 high).