AUD/USD Hits 2-Month Lows, Contained by 200-Day SMA

AUD/USD Hits 2-Month Lows, Contained by 200-Day SMA

13 May 2016, 16:11
Roberto Jacobs
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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).


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