AUD/USD Hits 2-Month Lows, Contained by 200-Day SMA
AUD/USD
fell to fresh 2-month lows at the beginning of the New York session, as
the greenback strengthened on the back of stronger than expected US retail sales data.
AUD/USD extended its decline on Friday, accelerating soth following US
data releases, and hit its lowest level since early March at 0.7265. The
fall stalled just a few pips ahead of the 200-day SMA and the pair was
last trading at 0.7270, recording a 0.75% loss on the day.
The Aussie is on track to post its third weekly fall in a row, after being rejected from 2016 highs at 0.7834 last month.
AUD/USD levels to watch
In terms of technical levels, immediate supports are seen at 0.7260
(200-day SMA), 0.7200 (psychological level) and 0.7164 (Mar 2 low). On
the flip side, next resistances could be found at 0.7325 (May 13 high),
0.7339 (100-day SMA) and 0.7379 (May 12 high).
