18 Aug 2015
AUD/USD falls further, approaches 0.7300
FXStreet (Córdoba) - AUD/USD dropped to fresh daily lows at the beginning of the New York session as the greenback strengthened after data showed US housing starts reached its highest level since October 2007.
AUD/USD broke below previous daily lows and fell to a 5-day low of 0.7319 in recent dealings. At time of writing, the pair is trading at 0.7325, 0.61% below its opening price.
During the Asian session, RBA released the minutes from their latest meeting, which added little new information. The RBA said it will review forthcoming data to judge if rates are appropriate. Regarding the Aussie, the bank said the currency will weaken against the greenback when the Fed raises rates.
AUD/USD technical levels
In terms of technical levels, immediate supports could be found at 0.7283 (Aug 11 low) and 0.7215 (6-year low Aug 12). On the flip side, resistances are seen at at 0.7385/87 (Aug 18 & 17 highs), 0.7408 (Aug 13 high) and 0.7438 (Aug 11 high).
AUD/USD broke below previous daily lows and fell to a 5-day low of 0.7319 in recent dealings. At time of writing, the pair is trading at 0.7325, 0.61% below its opening price.
During the Asian session, RBA released the minutes from their latest meeting, which added little new information. The RBA said it will review forthcoming data to judge if rates are appropriate. Regarding the Aussie, the bank said the currency will weaken against the greenback when the Fed raises rates.
AUD/USD technical levels
In terms of technical levels, immediate supports could be found at 0.7283 (Aug 11 low) and 0.7215 (6-year low Aug 12). On the flip side, resistances are seen at at 0.7385/87 (Aug 18 & 17 highs), 0.7408 (Aug 13 high) and 0.7438 (Aug 11 high).