17 Aug 2015
AUD/USD erases losses after US manufacturing data
FXStreet (Córdoba) - The Australian dollar has managed to hold up pretty well on Monday despite bearish comments by Goldman Sachs on the iron.
AUD/USD dropped to a daily low of 0.7342 but recovered some ground as the greenback weakened following the release of disappointing NY Empire State manufacturing index. The index fell to -14.92 in Aug, posting its lowest level since April 2009 and below the 5.0 expected. AUD/USD bounced off lows and it was last trading at 0.7370, virtually unchanged on the day.
Meanwhile, Chinese markets steadied for a second day and investors attention turns to US CPI and FOMC meetings for signs on when the Fed plans to start raising rates.
AUD/USD levels to watch
As for technical levels, AUD/USD could find next resistances at 0.7381 (Aug 17 high), 0.7387 (Aug 14 high) and 0.7408 (Aug 13 high). On the flip side, supports are seen at 0.7342 (Aug 17 low), 0.7322 (Aug 13 low) and 0.7283 (Aug 11 low).
AUD/USD dropped to a daily low of 0.7342 but recovered some ground as the greenback weakened following the release of disappointing NY Empire State manufacturing index. The index fell to -14.92 in Aug, posting its lowest level since April 2009 and below the 5.0 expected. AUD/USD bounced off lows and it was last trading at 0.7370, virtually unchanged on the day.
Meanwhile, Chinese markets steadied for a second day and investors attention turns to US CPI and FOMC meetings for signs on when the Fed plans to start raising rates.
AUD/USD levels to watch
As for technical levels, AUD/USD could find next resistances at 0.7381 (Aug 17 high), 0.7387 (Aug 14 high) and 0.7408 (Aug 13 high). On the flip side, supports are seen at 0.7342 (Aug 17 low), 0.7322 (Aug 13 low) and 0.7283 (Aug 11 low).