AUD/USD Consolidates Below 0.7200

AUD/USD Consolidates Below 0.7200

30 May 2016, 18:11
Roberto Jacobs

AUD/USD Consolidates Below 0.7200

AUD/USD has spent the last hours consolidating within a narrow range just below the 0.7200 level due to thin trading conditions, with US markets closed due to Memorial Day celebrations.

AUD/USD fell to a 6-day low of 0.7148 at the weekly opening, but managed to trim daily losses to trade roughly flat on the day. With the upside capped by the 0.7185 zone, the pair has been confined to a range, last trading at 0.7181, virtually unchanged on the day.

AUD/USD levels to consider

In terms of technical levels, next  resistances could be found at 0.7220 (10-day SMA), 0.7252 (200-day SMA) and 0.7330 (May 18 high). On the other hand, supports are seen at the 0.7148/44 zone (May 30 &24 lows) and 0.7108 (Mar 1 low) ahead of 0.7068 (Feb 19 low).


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