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18 Mar 2015
AUD/USD trades below 0.76
FXStreet (Mumbai) - The Aussie failed to strengthen after the rating agency Fitch affirmed Australia’s AAA/Stable rating. The AUD/USD pair continues to hover just below 0.76 levels.
AUD/USD: Rejected at 5-DMA
The pair failed earlier today to sustain gains above the 5-DMA located at 0.7619 levels. The Aussie had found support in the previous session after the Reserve Bank of Australia’s (RBA) latest meeting showed that the bank is in favor of waiting for more economic data before lowering interest rates further. However, the currency came under pressure ahead of the FOMC meeting, where the Fed is expected to drop the word “patience” from its forward guidance.
AUD/USD Technical Levels
The immediate support is seen at 0.7572, under which losses could be extended to 0.75 levels. On the flip side, the pair could re-test 0.7644 (10-DMA), once the resistance at 0.76 is taken out.
AUD/USD: Rejected at 5-DMA
The pair failed earlier today to sustain gains above the 5-DMA located at 0.7619 levels. The Aussie had found support in the previous session after the Reserve Bank of Australia’s (RBA) latest meeting showed that the bank is in favor of waiting for more economic data before lowering interest rates further. However, the currency came under pressure ahead of the FOMC meeting, where the Fed is expected to drop the word “patience” from its forward guidance.
AUD/USD Technical Levels
The immediate support is seen at 0.7572, under which losses could be extended to 0.75 levels. On the flip side, the pair could re-test 0.7644 (10-DMA), once the resistance at 0.76 is taken out.