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3 Jul 2014
AUD/USD remains under pressure, hits 1-week lows
FXStreet (Córdoba) - The AUD/USD fell sharply across the board Thursday following dovish comments from RBA Governor Stevens. Stevens said the RBA still has "ammunition" on interest rates , which markets understood as a sign rates will more likely go lower before going higher.
The AUD/USD dropped more than half a cent after the comments, extending a pullback from the 0.9500 area where the pair peaked 2 days ago. At time of writing, the Aussie is trading at the 0.9370 zone, recording a 0.69% loss on the day, having hit a 1-week low of 0.9365.
US nonfarm payrolls data will be the key event today, with consensus at 215K after a strong ADP yesterday.
AUD/USD levels to watch
In terms of technical levels, the Aussie could find next supports at 0.9353 (Jun 25 low), 0.9335 (50-day SMA) and 0.9300 (psychological level). On the flip side, resistances are seen at 0.9442 (Jul 3 high), 0.9504 (Jul 1 high) and 0.9527 (Nov 7 high).
The AUD/USD dropped more than half a cent after the comments, extending a pullback from the 0.9500 area where the pair peaked 2 days ago. At time of writing, the Aussie is trading at the 0.9370 zone, recording a 0.69% loss on the day, having hit a 1-week low of 0.9365.
US nonfarm payrolls data will be the key event today, with consensus at 215K after a strong ADP yesterday.
AUD/USD levels to watch
In terms of technical levels, the Aussie could find next supports at 0.9353 (Jun 25 low), 0.9335 (50-day SMA) and 0.9300 (psychological level). On the flip side, resistances are seen at 0.9442 (Jul 3 high), 0.9504 (Jul 1 high) and 0.9527 (Nov 7 high).