10 Jul 2014
AUD/USD comes under renewed pressure
FXStreet (Córdoba) - The Australian dollar came under renewed pressure at the beginning of the European session and hit a 2-day low versus the greenback still weighed by Australian employment data.
The AUD/USD pulled back sharply from a high of 0.9455 and following a consolidation phase, it broke below 0.9400 and stretched to a low of 0.9365 before finding support. At the time of writing, the AUD/USD is trading at 0.9370, recording a 0.44% loss on the day.
Australian data showed unemployment rose to 6.0%in June as more people went looking for work.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could find next supports at 0.9365/ (Jul 10 & 8 lows), 0.9346 (50-day SMA) and 0.9340 (Jul 7 low). On the flip side, resistances are seen at 0.9455 (Jul 10 high), 0.9460 (Apr 10 high) and the 0.9498/0.9504 zone (Jul 1 & 2 highs).
The AUD/USD pulled back sharply from a high of 0.9455 and following a consolidation phase, it broke below 0.9400 and stretched to a low of 0.9365 before finding support. At the time of writing, the AUD/USD is trading at 0.9370, recording a 0.44% loss on the day.
Australian data showed unemployment rose to 6.0%in June as more people went looking for work.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could find next supports at 0.9365/ (Jul 10 & 8 lows), 0.9346 (50-day SMA) and 0.9340 (Jul 7 low). On the flip side, resistances are seen at 0.9455 (Jul 10 high), 0.9460 (Apr 10 high) and the 0.9498/0.9504 zone (Jul 1 & 2 highs).