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1 Sep 2015
AUD/USD consolidates near 6-year lows sub-0.7100
FXStreet (Córdoba) - AUD/USD came under pressure on Tuesday and retested last week’s multi-year lows weighed by the risk-off sentiment after a series of global PMIs printed on the soft side including China.
AUD/USD spiked to a daily high of 0.7152 after the Reserve Bank of Australia decided to leave the interest rate unchanged at 2.0% as expected, but then lost more than a full cent in the subsequent hours to bottom out at 0.7036, roughly at the same level it did last Monday.
The US ISM manufacturing PMI, which is expected to remain broadly unchanged at 52.4, will be released during the NY session and it will likely set the tone for markets.
AUD/USD technical levels
At time of writing, AUD/USD is trading at 0.7047, recording a 0.91% loss on the day, with immediate supports seen at 0.7036 (Aug 24 & Sep 1 low) ahead of 0.7000 (psychological level) and 0.6988 (Apr 28 2009 low). On the flip side, resistances could be found at 0.7152 (Sep 1 high), 0.7189 (10-day SMA) and 0.7200 (psychological level).
AUD/USD spiked to a daily high of 0.7152 after the Reserve Bank of Australia decided to leave the interest rate unchanged at 2.0% as expected, but then lost more than a full cent in the subsequent hours to bottom out at 0.7036, roughly at the same level it did last Monday.
The US ISM manufacturing PMI, which is expected to remain broadly unchanged at 52.4, will be released during the NY session and it will likely set the tone for markets.
AUD/USD technical levels
At time of writing, AUD/USD is trading at 0.7047, recording a 0.91% loss on the day, with immediate supports seen at 0.7036 (Aug 24 & Sep 1 low) ahead of 0.7000 (psychological level) and 0.6988 (Apr 28 2009 low). On the flip side, resistances could be found at 0.7152 (Sep 1 high), 0.7189 (10-day SMA) and 0.7200 (psychological level).