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7 Aug 2014
AUD/USD takes a breather after slump
FXStreet (Córdoba) - The AUD/USD managed to pause losses at the beginning of the European session after falling nearly 100 pips on the back of dismal US employment data.
The AUD/USD was heavily sold-off after data showed the Australian unemployment rate unexpectedly rose to 6.4% in July from 6.0% the previous month, hitting its highest level in 5 years. The Aussie came under pressure and broke below the 0.9300/0.9275 area, falling to a 2-month low of 0.9262 before finding interim support.
AUD/USD levels to watch
At time of writing, the AUD/USD is trading at the 0.9270 zone, recording a 0.92% loss on the day. As for technical levels, immediate supports are seen at 0.9251 (Jun 4 low), 0.9228 (Jun 3 low) and 0.9210 (May 29 low). On the flip side, resistances are seen at 0.9332 (100-day SMA), 0.9356 (Aug 7 high) and 0.9373 (Aug 6 high).
The AUD/USD was heavily sold-off after data showed the Australian unemployment rate unexpectedly rose to 6.4% in July from 6.0% the previous month, hitting its highest level in 5 years. The Aussie came under pressure and broke below the 0.9300/0.9275 area, falling to a 2-month low of 0.9262 before finding interim support.
AUD/USD levels to watch
At time of writing, the AUD/USD is trading at the 0.9270 zone, recording a 0.92% loss on the day. As for technical levels, immediate supports are seen at 0.9251 (Jun 4 low), 0.9228 (Jun 3 low) and 0.9210 (May 29 low). On the flip side, resistances are seen at 0.9332 (100-day SMA), 0.9356 (Aug 7 high) and 0.9373 (Aug 6 high).