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9 Apr 2015
AUD/USD retreats from weekly highs
FXStreet (Córdoba) - A stronger US dollar across the board weakened the AUD/USD pair that is retreating and has fallen below 0.7700. Earlier it climbed to 0.7738, reaching the strongest level since March 30.
The aussie was unable to hold above 0.7720 and lost momentum. Despite the pullback, the pair is still trading above yesterday’s closing price, headed toward the third daily gain in a row, supported by the Reserve Bank of Australia decision and the latest economic data, that showed an increase in the AiG Construction index, released today.
AUD/USD technical levels
To the downside, the pair is moving toward the 0.7695/0.7700 area, where the hourly 20-SMA is located, below here support levels might lie at 0.7680 (European session low), 0.7660 (daily low) and 0.7625. On the opposite direction, resistance could be located at 0.7725, 0.7740 (daily high) and 0.7800.
The aussie was unable to hold above 0.7720 and lost momentum. Despite the pullback, the pair is still trading above yesterday’s closing price, headed toward the third daily gain in a row, supported by the Reserve Bank of Australia decision and the latest economic data, that showed an increase in the AiG Construction index, released today.
AUD/USD technical levels
To the downside, the pair is moving toward the 0.7695/0.7700 area, where the hourly 20-SMA is located, below here support levels might lie at 0.7680 (European session low), 0.7660 (daily low) and 0.7625. On the opposite direction, resistance could be located at 0.7725, 0.7740 (daily high) and 0.7800.