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1 Jun 2015
AUD/USD dips briefly below 0.7600, 7-week low
FXStreet (Córdoba) - AUD/USD pushed lower and printed fresh 7-week lows dragged by a stronger dollar on the back of better-than-expected US manufacturing data.
AUD/USD fell through the 0.7615 zone and stretched to its lowest level since Apr 15 at 0.7598. The Australian dollar is struggling to hold onto the 0.76 mark as investors await the RBA interest rate decision next Asian session.
The Reserve Bank of Australia is expected to keep the main interest rate unchanged at a record low of 2.0%, after cuts of 25 bps in March and May.
AUD/USD levels to watch
At time of writing, AUD/USD is trading at 0.7605, down 0.48% on the day, with immediate supports seen at 0.7598 (daily low), 0.7570 (Apr 15 low) and 0.7552 (Apr 13 low). On the other hand, resistances line up at 0.7667 (daily high), 0.7680 (100-hour SMA) and 0.7700 (psychological level).
AUD/USD fell through the 0.7615 zone and stretched to its lowest level since Apr 15 at 0.7598. The Australian dollar is struggling to hold onto the 0.76 mark as investors await the RBA interest rate decision next Asian session.
The Reserve Bank of Australia is expected to keep the main interest rate unchanged at a record low of 2.0%, after cuts of 25 bps in March and May.
AUD/USD levels to watch
At time of writing, AUD/USD is trading at 0.7605, down 0.48% on the day, with immediate supports seen at 0.7598 (daily low), 0.7570 (Apr 15 low) and 0.7552 (Apr 13 low). On the other hand, resistances line up at 0.7667 (daily high), 0.7680 (100-hour SMA) and 0.7700 (psychological level).