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17 Apr 2015
AUD/USD backs away as the greenback recovers ground
FXStreet (Córdoba) - AUD/USD backed away from 3-week highs and completely erased intraday gains as the greenback strengthened and trimmed losses on the back of supportive US CPI data.
AUD/USD that had reached a high of 0.7841, turned lower and fell to a fresh daily low of 0.7768 after the release of US data, which showed headline and core CPI rose by 0.2% in March, matching consensus and last month reading.
At time of writing, the pair is trading at the 0.7775 area, now 0.35% below its opening price. However, AUD/USD is still on track for its second weekly gain in a row, underpinned by much-better-than-expected Australian employment data released on Thursday.
AUD/USD levels to watch
As for technical levels, immediate supports are seen at 0.7768 (daily low), 0.7730 (50-day SMA) and 0.7703/00 (21-day SMA/psychological level). On the other hand, resistances line up at 0.7848 (daily high), 0.7883 (Mar 26 high) and 0.7900 (psychological level).
AUD/USD that had reached a high of 0.7841, turned lower and fell to a fresh daily low of 0.7768 after the release of US data, which showed headline and core CPI rose by 0.2% in March, matching consensus and last month reading.
At time of writing, the pair is trading at the 0.7775 area, now 0.35% below its opening price. However, AUD/USD is still on track for its second weekly gain in a row, underpinned by much-better-than-expected Australian employment data released on Thursday.
AUD/USD levels to watch
As for technical levels, immediate supports are seen at 0.7768 (daily low), 0.7730 (50-day SMA) and 0.7703/00 (21-day SMA/psychological level). On the other hand, resistances line up at 0.7848 (daily high), 0.7883 (Mar 26 high) and 0.7900 (psychological level).