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21 Aug 2015
AUD/USD erases Asian session losses
FXStreet (Córdoba) - The Aussie has taken advantage of greenback weakness and despite the risk-off environment and the sell-off in stocks, AUD/USD has managed to turn positive on the day.
Almost perfectly mirroring yesterday’s moves, AUD/USD fell sharply during the Asian session weighed by disappointing Chinese PMI, but it has been slowly recovering ground over the last hours, but the upside remains capped by the 0.7360 zone.
AUD/USD bottomed out at 0.7286, roughly the same level it did yesterday, before staging a comeback. At time of writing, the pair is trading at 0.7350, up 0.22% on Friday.
AUD/USD key levels
On the downside, next supports are seen at 0.7284 (Aug 20 & 11 lows) and 0.7215 (6-year low Aug 12) ahead of 0.7200 (psychological level). On the upside, resistances could be found at 0.7360 (Aug 21 high), 0.7372 (Aug 20 high) and 0.7385/88 (Aug 18 & 17 highs).
Almost perfectly mirroring yesterday’s moves, AUD/USD fell sharply during the Asian session weighed by disappointing Chinese PMI, but it has been slowly recovering ground over the last hours, but the upside remains capped by the 0.7360 zone.
AUD/USD bottomed out at 0.7286, roughly the same level it did yesterday, before staging a comeback. At time of writing, the pair is trading at 0.7350, up 0.22% on Friday.
AUD/USD key levels
On the downside, next supports are seen at 0.7284 (Aug 20 & 11 lows) and 0.7215 (6-year low Aug 12) ahead of 0.7200 (psychological level). On the upside, resistances could be found at 0.7360 (Aug 21 high), 0.7372 (Aug 20 high) and 0.7385/88 (Aug 18 & 17 highs).