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30 Mar 2015
AUD/USD near fresh weekly lows around 0.7730
FXStreet (Mumbai) - AUD/USD kicked-off the week on a softer note this Asian session, tracking deep losses seen in the commodity space as the USD continues to dominate the fx markets on Friday’s US macro data.
AUD/USD hovers around 20-DMA
Currently, the AUD/USD trades lower by -0.37% at 0.7727 levels, having posted fresh weekly lows at 0.7712 couple of hours ago. AUD/USD accelerated losses largely on falling oil, precious metals and copper prices which dragged the commodity-backed Aussie lower.
Moreover, increasing bets on RBA rate cut in its April meeting coupled with a broadly stronger greenback also continues to weigh on the pair.
Meanwhile, traders now turn their attention towards a series of major US economic releases later in the day for fresh incentives on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7777 (5-DMA) levels, above which gains could be extended to 0.7800 levels. On the flip side, support is seen at 0.7700 levels from here it to 0.7681 levels.
AUD/USD hovers around 20-DMA
Currently, the AUD/USD trades lower by -0.37% at 0.7727 levels, having posted fresh weekly lows at 0.7712 couple of hours ago. AUD/USD accelerated losses largely on falling oil, precious metals and copper prices which dragged the commodity-backed Aussie lower.
Moreover, increasing bets on RBA rate cut in its April meeting coupled with a broadly stronger greenback also continues to weigh on the pair.
Meanwhile, traders now turn their attention towards a series of major US economic releases later in the day for fresh incentives on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7777 (5-DMA) levels, above which gains could be extended to 0.7800 levels. On the flip side, support is seen at 0.7700 levels from here it to 0.7681 levels.