19 Aug 2015
AUD/USD unable to hold gains
FXStreet (Córdoba) - AUD/USD surrendered completely intraday gains over the last hours, and despite a short-lived spike on the back of US CPI, the pair is back trading in negative ground for the day.
AUD/USD was rejected for a second time from 0.7363 (10-day SMA) on Wednesday after the initial reaction to US CPI sent the pair to retest daily highs. AUD/USD has fallen back to the 0.7330 zone, where it is currently trading, just a few pips below its opening price.
Later on Wednesday, investors will be closely watching FOMC minutes, for guidance on the probability the Fed will raise rates next month.
AUD/USD key levels
As for technical levels, immediate supports are seen at 0.7314 (Aug 19 low), 0.7283 (Aug 11 low) and 0.7215 (6-year low Aug 12). On the flip side, resistances are seen at at 0.7363 (Aug 19 high/10-day SMA), 0.7385/88 (Aug 18 & 17 highs) and 0.7408 (Aug 13 high).
AUD/USD was rejected for a second time from 0.7363 (10-day SMA) on Wednesday after the initial reaction to US CPI sent the pair to retest daily highs. AUD/USD has fallen back to the 0.7330 zone, where it is currently trading, just a few pips below its opening price.
Later on Wednesday, investors will be closely watching FOMC minutes, for guidance on the probability the Fed will raise rates next month.
AUD/USD key levels
As for technical levels, immediate supports are seen at 0.7314 (Aug 19 low), 0.7283 (Aug 11 low) and 0.7215 (6-year low Aug 12). On the flip side, resistances are seen at at 0.7363 (Aug 19 high/10-day SMA), 0.7385/88 (Aug 18 & 17 highs) and 0.7408 (Aug 13 high).