15 Sep 2015
AUD/USD directionless around 0.7130, US data eyed
FXStreet (Mumbai) - The AUD/USD pair extends its choppiness into the mid-European session, swinging between gains and losses, as markets continue to assess the RBA minutes released earlier today amid persisting risk-aversion seen across the FX board.
AUD/USD supported at 0.7104 levels
Currently, the AUD/USD pair trades -0.06% lower at 0.7131, recovering from session lows struck at 0.7104 in early trades. The AUD/USD pair was unable to resist 0.7160 region and dropped sharply on RBA minutes in a knee-jerk reaction during early Asia.
Subsequently, the RBA-led drop was extended in the early European trades to 0.7104 levels, as the European traders digested the minutes and its implications on future policy path as well as on the AUD level.
At the moment, markets seem to have moved past the RBA minutes and now await the US data due later today for fresh direction on the Aussie.
AUD/USD Levels to watch
The pair has an immediate resistance at 0.7166 (Today’s High) levels, above which gains could be extended to 0.7207 (Aug 28 High) levels. On the flip side, support is seen at 0.7064 (Today’s Low) levels from here it to 0.7009 (Sept 1 Low).
AUD/USD supported at 0.7104 levels
Currently, the AUD/USD pair trades -0.06% lower at 0.7131, recovering from session lows struck at 0.7104 in early trades. The AUD/USD pair was unable to resist 0.7160 region and dropped sharply on RBA minutes in a knee-jerk reaction during early Asia.
Subsequently, the RBA-led drop was extended in the early European trades to 0.7104 levels, as the European traders digested the minutes and its implications on future policy path as well as on the AUD level.
At the moment, markets seem to have moved past the RBA minutes and now await the US data due later today for fresh direction on the Aussie.
AUD/USD Levels to watch
The pair has an immediate resistance at 0.7166 (Today’s High) levels, above which gains could be extended to 0.7207 (Aug 28 High) levels. On the flip side, support is seen at 0.7064 (Today’s Low) levels from here it to 0.7009 (Sept 1 Low).