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14 Apr 2015
AUD/USD keeps losses near 0.7570
FXStreet (Mumbai) - The Australian dollar resumes its descent versus the US counterpart, after a brief rebound seen in Asia, as traders now await US retail sales data which may stoke further upside for the greenback, drowning the pair to fresh cycle lows.
AUD/USD remains below 0.76
Currently, the AUD/USD pair trades lower by -0.28% at 0.7568, testing session lows at 0.7556. AUD/USD remains pressured and fell to new lows as sliding gold prices around 1190 levels, down nearly -0.85% on the day, dragged the Aussie lower.
Moreover, the Aussie remains undermined on the back of news that S&P has placed credit watch negative on some of the world's biggest iron ore miners in Western Australia as the price of the commodity continues to plunge amid a supply glut and soft Chinese demand.
On the macro economic front, markets now eye US retails sales numbers later in the day and China GDP data due tomorrow for further momentum on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7624 (Today’s High) levels, above which gains could be extended to 0.7687 (20-DMA) levels. On the flip side, support is seen at 0.7550 (April 13 Low) levels from here it to 0.7530 (April 2 Low) levels.
AUD/USD remains below 0.76
Currently, the AUD/USD pair trades lower by -0.28% at 0.7568, testing session lows at 0.7556. AUD/USD remains pressured and fell to new lows as sliding gold prices around 1190 levels, down nearly -0.85% on the day, dragged the Aussie lower.
Moreover, the Aussie remains undermined on the back of news that S&P has placed credit watch negative on some of the world's biggest iron ore miners in Western Australia as the price of the commodity continues to plunge amid a supply glut and soft Chinese demand.
On the macro economic front, markets now eye US retails sales numbers later in the day and China GDP data due tomorrow for further momentum on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7624 (Today’s High) levels, above which gains could be extended to 0.7687 (20-DMA) levels. On the flip side, support is seen at 0.7550 (April 13 Low) levels from here it to 0.7530 (April 2 Low) levels.