AUD/USD making minor correction below 0.74 handle

Currently, AUD/USD is trading at 0.7392, down -0.09% on the day, having posted a daily high at 0.7447 and low at 0.7373.

Gold plunges below $1200 mark as USD soars on stronger data

"The winner in Asia was the Australian dollar, which ignored soft construction data and reacted to the strength of iron ore prices," explained Kit Juckes, analysts at Societe Genearle, adding, " AUD/USD tracks iron ore at least as well as it tracks relative rates, and the immediate aftermath of the US election saw a major de-coupling. If the market corrects that, AUD has room to rally." For the US session, the US data has dominated with the pair losing traction and dropping to test bids below the 0.74 handle to aforementioned lows. US durable goods 

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AUD/USD levels

Spot is presently trading at 0.7392, and next resistance can be seen at 0.7393 (Daily Classic PP), 0.7399 (Daily Open), 0.7412 (Hourly 20 EMA), 0.7415 (Yesterday's High) and 0.7417 (Weekly Classic PP). Support below can be found at 0.7392 (Hourly 100 SMA), 0.7373 (Daily Low), 0.7370 (Daily Classic S1), 0.7364 (Yesterday's Low) and 0.7342 (Daily Classic S2).