AUD/USD Back Below 0.7200

AUD/USD Back Below 0.7200

27 May 2016, 16:06
Roberto Jacobs

AUD/USD Back Below 0.7200

AUD/USD slid back below the 0.72 mark at the beginning of the New York session as the dollar strengthened slightly despite below expectations US GDP revision.

AUD/USD dropped below the 100-hour SMA and hit fresh daily low of 0.7195 before finding support. At time of writing, the pair is trading at 0.7197, recording a 0.39% loss on the day and on track to post its fifth weekly decline in a row. 

AUD/USD levels to consider

In terms of technical levels, next supports are seen at 0.7162 (May 26 low), 0.7144 (May 24 low) and 0.7108 (Mar 1 low). On the flip side, resistances could be found at 0.7253 (200-day SMA), 0.7330 (May 18 high) ahead of 0.7344 (100-day SMA).


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