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15 May 2015
AUD/USD drops to 0.8013
FXStreet (Mumbai) - The bargain hunting ahead of the European session failed to provide support to the Aussie as the AUD/USD pair extended losses to trade at 0.8013.
Trades below 5-DMA
The pair now trades below its 5-DMA located at 0.8018. The Antipodeans have been under pressure since the early Asian session today. The bargain hunting around 0.8045-0.8050 failed to lead to recovery as the USD made a comeback across the board during the European session.
Ahead in the day, the pair could take cues from the US industrial production data and preliminary Michigan confidence data.
AUD/USD Technical Levels
The immediate support is seen at 0.8, under which losses could be extended to 0.7971 (10-DMA). On the flip side, a break above 0.8074, above which gains could be extended to its 200-DMA at 0.8140.
Trades below 5-DMA
The pair now trades below its 5-DMA located at 0.8018. The Antipodeans have been under pressure since the early Asian session today. The bargain hunting around 0.8045-0.8050 failed to lead to recovery as the USD made a comeback across the board during the European session.
Ahead in the day, the pair could take cues from the US industrial production data and preliminary Michigan confidence data.
AUD/USD Technical Levels
The immediate support is seen at 0.8, under which losses could be extended to 0.7971 (10-DMA). On the flip side, a break above 0.8074, above which gains could be extended to its 200-DMA at 0.8140.