AUD/USD extends losses, hits fresh 2-month lows

AUD/USD came under strong selling pressure on Wednesday, as the greenback resumed gains versus most rivals following a corrective phase.

AUD/USD was capped by the 0.7570/80 resistance area and turned lower, having fallen more than 100 pips throughout the day to hit its lowest level in two months at 0.7463. At time of writing, the pair is trading around 0.7470, recording a 1.1% loss on the day.

During the New York session, US data includes producer price index, capacity utilisation; industrial production and NAHB housing market index.

AUD/USD levels to watch

As for technical levels, AUD/USD could find next supports at 0.7441 (Sep 13 low), 0.7420 (Jul 27 low) and 0.7400 (psychological level). On the other hand, resistances are seen at 0.7592 (100-day SMA), 0.7607 (50-day SMA) and 0.7629 (Nov 11 high).

To learn more about this topic, check our video analysis

AUDUSD from Tip TV Productions on Vimeo.