23 Jul 2015
AUD/USD back to square one
FXStreet (Córdoba) - AUD/USD fell sharply and erased previous daily gains as the greenback received a boost from stronger-than-expected employment figures.
AUD/USD dropped more than 50 pips following the release of US jobless claims data, which showed claims for unemployment benefits dropped to its lowest level since Nov 24, 1973. AUD/USD retested daily lows at the 0.7355 region but managed to hold. At time of writing, the pair was last trading at 0.7373, virtually unchanged on the day.
AUD/USD levels to watch
As for technical levels, AUD/USD could find next supports at at 0.7355 (Jul 23 low), 0.7340 (Jul 21 low) and 0.7327 (6-year low Jul 20). On the flip side, resistances are seen at 0.7417 (Jul 23 high), 0.7449 (Jul 21 high) and 0.7483 (20-day SMA).
AUD/USD dropped more than 50 pips following the release of US jobless claims data, which showed claims for unemployment benefits dropped to its lowest level since Nov 24, 1973. AUD/USD retested daily lows at the 0.7355 region but managed to hold. At time of writing, the pair was last trading at 0.7373, virtually unchanged on the day.
AUD/USD levels to watch
As for technical levels, AUD/USD could find next supports at at 0.7355 (Jul 23 low), 0.7340 (Jul 21 low) and 0.7327 (6-year low Jul 20). On the flip side, resistances are seen at 0.7417 (Jul 23 high), 0.7449 (Jul 21 high) and 0.7483 (20-day SMA).