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23 Feb 2015
AUD/USD sinks to fresh lows below 0.7800
FXStreet (Mumbai) - AUD/USD dived deeper in red in the European session, extending losses from the previous session largely on the back of divergent monetary policy outlooks between the Oz economy and the US.
AUD/USD slips from 0.7841 levels
Currently, the AUD/USD trades lower by -0.61% at fresh session lows of 0.7794 levels. AUD/USD gave back gains and fell further in to red after traders began to weigh contrasting policy stance between the two economies. Tuesday’s Fed Chair Yellen’s testimony is expected to provide fresh hints on the timings of the much anticipated rate-hike. While, there are increased expectations that RBA may slash rate further in its upcoming policy meet in March. Moreover, the fall in the Aussie was further exacerbated on falling oil and gold prices.
Meanwhile, traders now focus on US macro data later in the day for further momentum on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7845 levels, above which gains could be extended to 0.7880 levels. On the flip side, support is seen at 0.7755 from here it to 0.7721 levels.
AUD/USD slips from 0.7841 levels
Currently, the AUD/USD trades lower by -0.61% at fresh session lows of 0.7794 levels. AUD/USD gave back gains and fell further in to red after traders began to weigh contrasting policy stance between the two economies. Tuesday’s Fed Chair Yellen’s testimony is expected to provide fresh hints on the timings of the much anticipated rate-hike. While, there are increased expectations that RBA may slash rate further in its upcoming policy meet in March. Moreover, the fall in the Aussie was further exacerbated on falling oil and gold prices.
Meanwhile, traders now focus on US macro data later in the day for further momentum on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7845 levels, above which gains could be extended to 0.7880 levels. On the flip side, support is seen at 0.7755 from here it to 0.7721 levels.