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26 Feb 2015
And 110 pips later, AUD/USD is testing the 0.7800 level
FXStreet (San Francisco) - The AUD/USD is extending its rejection from nearly one month low of 0.7910 and after falling 110 pips the pair is now testing the 0.7800 level.
Currently, AUD/USD is trading at 0.7809, down 1.02% on the day, having posted a daily high at 0.7914 and low at 0.7801. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.
AUD/USD sentiment
The US Dollar is trading on the offensive as the market digested the US core CPI as a hint that prices will be closer to Fed's target sooner and the central bank will have to hike rates.
Thus, if the AUD/USD breaks below 0.7800, it will find next resistance at 0.7780 and 0.7740. TO the upside, resistances are at 0.7820, 0.7850 and 0.7900.
Currently, AUD/USD is trading at 0.7809, down 1.02% on the day, having posted a daily high at 0.7914 and low at 0.7801. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.
AUD/USD sentiment
The US Dollar is trading on the offensive as the market digested the US core CPI as a hint that prices will be closer to Fed's target sooner and the central bank will have to hike rates.
Thus, if the AUD/USD breaks below 0.7800, it will find next resistance at 0.7780 and 0.7740. TO the upside, resistances are at 0.7820, 0.7850 and 0.7900.