AUD/USD Dips Below 0.7200

AUD/USD Dips Below 0.7200

23 May 2016, 15:59
Roberto Jacobs

AUD/USD Dips Below 0.7200

AUD/USD extended losses and fell below the 0.72 mark at the beginning of the New York session amid broad USD strength.

AUD/USD came under renewed pressure and fell to a 4-day low of 0.7194 in recent dealings. At time of writing, the pair is trading at 0.7201, down 0.33% on the day.

There is no first-tier data scheduled for the American session, but investors focus should be on the speech by San Francisco Fed J.Williams (non-voter) and tomorrow’s speech by RBA’s G.Stevens.

AUD/USD levels to watch

In terms of technical levels, AUD/USD could find next supports at 0.7164 (Mar 2 low), 0.7108 (Mar 1 low) and 0.7068 (Feb 19 low). On the other hand, next resistances could be found at 0.7255/59 (200-day SMA/May 23 high), 0.7293 (10-day SMA) and 0.7330 (May 18 high).


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