22 Jul 2015
AUD/USD fails to sustain gains, dips below 0.7400
FXStreet (Córdoba) - AUD/USD failed to hold above the 0.7400 level and faced mild pressure on Wednesday as the greenback stages a comeback across the board after previous day pullback.
The Australian dollar was underpinned during the Asian session following RBA Governor Stevens upbeat comments, but failed to sustain gains. AUD/USD has lost more than 50 pips over the last hours and hit a session low of 0.7380 in recent dealings.
From a broader view however, AUD/USD continues to trade near 6-year lows scored earlier this week, amid USD strength and weaker commodities.
AUD/USD key levels
At time of writing, the pair is trading at 0.7389, 0.39% below its opening price. As for technical levels, immediate supports are seen at 0.7372 (Jul 22 low), 0.7340 (Jul 21 low) and 0.7327 (6-year low Jul 20). On the flip side, resistances could be found at 0.7438 (Jul 22 high), 0.7488 (Jul 15 high) and 0.7500 (psychological level).
The Australian dollar was underpinned during the Asian session following RBA Governor Stevens upbeat comments, but failed to sustain gains. AUD/USD has lost more than 50 pips over the last hours and hit a session low of 0.7380 in recent dealings.
From a broader view however, AUD/USD continues to trade near 6-year lows scored earlier this week, amid USD strength and weaker commodities.
AUD/USD key levels
At time of writing, the pair is trading at 0.7389, 0.39% below its opening price. As for technical levels, immediate supports are seen at 0.7372 (Jul 22 low), 0.7340 (Jul 21 low) and 0.7327 (6-year low Jul 20). On the flip side, resistances could be found at 0.7438 (Jul 22 high), 0.7488 (Jul 15 high) and 0.7500 (psychological level).