12 Jun 2015
AUD/USD drops below 0.7750
FXStreet (Mumbai) - The AUD/USD pair ran into offers at the session high of 0.7756, post which it fell into losses to trade at 0.7726 levels.
Gains capped at 100-DMA
The pair could not sustain above its 100-DMA located at 0.7773 levels, despite of a better than expected employment data released in the previous session. Furthermore, the buying in the AUD/NZD cross also failed to push the pair above the said level in the previous two sessions.
Ahead in the day, the pair could be influenced by the US data - PPI and Michigan consumer confidence index. In the meantime, market’s appetite for the US dollars could continue to guide the movement in the pair through the European session.
AUD/USD Technical Levels
The immediate resistance is seen at 0.7773 (100-DMA), above which gains could be extended to 0.78. On the flip side, a break below 0.77 could drive the pair lower to 0.7650.
Gains capped at 100-DMA
The pair could not sustain above its 100-DMA located at 0.7773 levels, despite of a better than expected employment data released in the previous session. Furthermore, the buying in the AUD/NZD cross also failed to push the pair above the said level in the previous two sessions.
Ahead in the day, the pair could be influenced by the US data - PPI and Michigan consumer confidence index. In the meantime, market’s appetite for the US dollars could continue to guide the movement in the pair through the European session.
AUD/USD Technical Levels
The immediate resistance is seen at 0.7773 (100-DMA), above which gains could be extended to 0.78. On the flip side, a break below 0.77 could drive the pair lower to 0.7650.