19 Feb 2015
AUD/USD drops below 0.78
FXStreet (Mumbai) - The AUD/USD slipped below 0.78 levels from the high of 0.7841 after credit rating agency Standard & Poor's Financial Services said Australia's AAA credit rating could be at risk.
AUD/USD stuck at technical resistance
The pair has repeatedly failed to sustain gains above 0.783-0.784 range for the last few sessions. The pair dropped to 0.74 levels after having failed once at 0.784 levels. The Aussie had recovered to trade at the pre-RBA rate cut level after the Federal Reserve (Fed) minutes revealed policymakers are in no rush to increase the interest rates.
AUD/USD Technical Levels
The immediate support is seen at 0.7785 (5-DMA) and 0.7773 (10-DMA) levels. On the flip side, a break above resistance at 0.7840 could push the pair higher to 0.7874 (Feb. 6th high).
AUD/USD stuck at technical resistance
The pair has repeatedly failed to sustain gains above 0.783-0.784 range for the last few sessions. The pair dropped to 0.74 levels after having failed once at 0.784 levels. The Aussie had recovered to trade at the pre-RBA rate cut level after the Federal Reserve (Fed) minutes revealed policymakers are in no rush to increase the interest rates.
AUD/USD Technical Levels
The immediate support is seen at 0.7785 (5-DMA) and 0.7773 (10-DMA) levels. On the flip side, a break above resistance at 0.7840 could push the pair higher to 0.7874 (Feb. 6th high).