AUD/USD Struggling to Consolidate Above 0.7500

AUD/USD Struggling to Consolidate Above 0.7500

5 May 2016, 16:16
Roberto Jacobs
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AUD/USD Struggling to Consolidate Above 0.7500

AUD/USD is staging a modest recovery on Thursday, with the Aussie among the best performers at the beginning of the New York session, helped by better-than-expected domestic data.

AUD/USD has moved off lows at the 0.7445 area where it bottomed yesterday, and regained the 0.7500 level, although it found resistance very quickly. With the upside capped by the 0.7515 zone, the pair has spent the last hours in a range and it was last around 0.7490, still up 0.51% on the day.

AUD/USD levels to watch

As for technical levels, next supports are seen at 0.7446 (May 4 low), 0.7414 (Mar 16 low) and 0.7390 (Mar 7 low). On the other hand, resistances could be found at 0.7558 (50-day SMA), 0.7653 (20-day SMA) and 0.7719 (May 3 high).


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