7 Aug 2015
AUD/USD retreats from 0.7400 after nonfarm payrolls
FXStreet (Córdoba) - AUD/USD dropped to retest daily lows as the knee-jerk reaction to US nonfarm payrolls, as the greenback benefited from prospects the Fed was still on track to raise rates in September.
US economy created respectable 215,000 jobs in July, below the 222,000 expected but June and May gains were upwardly revised. Meanwhile, the unemployment rate to remained at 5.3% as expected.
AUD/USD stretched to a high of 0.7396 before turning sharply lower and sliding to the 0.7350 zone. At time of writing, AUD/USD is trading at 0.7365, still 0.31% above its opening price.
AUD/USD levels to watch
As for technical levels, resistances could be found at 0.7427 (Aug 4 high), 0.7449 (Jul 21 high) and 0.7488 (Jul 15 high). On the other hand, supports are seen at at 0.7314 (Aug 6 low), 0.7300 (psychological level) and 0.7263 (Aug 4 low).
US economy created respectable 215,000 jobs in July, below the 222,000 expected but June and May gains were upwardly revised. Meanwhile, the unemployment rate to remained at 5.3% as expected.
AUD/USD stretched to a high of 0.7396 before turning sharply lower and sliding to the 0.7350 zone. At time of writing, AUD/USD is trading at 0.7365, still 0.31% above its opening price.
AUD/USD levels to watch
As for technical levels, resistances could be found at 0.7427 (Aug 4 high), 0.7449 (Jul 21 high) and 0.7488 (Jul 15 high). On the other hand, supports are seen at at 0.7314 (Aug 6 low), 0.7300 (psychological level) and 0.7263 (Aug 4 low).