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20 May 2015
AUD/USD hovers around 0.7900
FXStreet (Córdoba) - AUD/USD continues to trade on both sides of 0.7900 after the downside was contained by the 0.7880 zone during the European session.
AUD/USD bottomed out at 0.7883 and entered a consolidation phase, although the pair is pushing higher as the dollar retreats at the beginning of the American session. At time of writing, the pair is trading at 0.7905, still 0.10% below its opening price.
Investors will focus on FOMC minutes to be released at 18:00 GMT, for signs about the timing the Fed plans hike rates.
AUD/USD technical levels
As for technical levels, AUD/USD could find immediate supports at 0.7883 (daily low), 0.7863 (May 8 low) and 0.7847 (100-day SMA). On the other hand, resistances are seen at 0.7934 (daily high/20-day SMA), 0.7971 (10-day SMA) and 0.8010 (May 19 high).
AUD/USD bottomed out at 0.7883 and entered a consolidation phase, although the pair is pushing higher as the dollar retreats at the beginning of the American session. At time of writing, the pair is trading at 0.7905, still 0.10% below its opening price.
Investors will focus on FOMC minutes to be released at 18:00 GMT, for signs about the timing the Fed plans hike rates.
AUD/USD technical levels
As for technical levels, AUD/USD could find immediate supports at 0.7883 (daily low), 0.7863 (May 8 low) and 0.7847 (100-day SMA). On the other hand, resistances are seen at 0.7934 (daily high/20-day SMA), 0.7971 (10-day SMA) and 0.8010 (May 19 high).