21 May 2015
AUD/USD takes a breather near 2-week lows
FXStreet (Córdoba) - AUD/USD entered a consolidation phase near daily lows as the Aussie continues to underperform along with other commodity currencies.
The latest string of US data had little impact on the US dollar, leaving AUD/USD confined to its recent range. The pair fell to a daily low of 0.7865, but found buyers ahead of the 100-day SMA, which has been acting as dynamic support. At time of writing, AUD/USD is trading at 0.7883, now a few pips above its opening price.
The Australian dollar is taking a breather following a 5-day losing streak, which sent the pair from a 4-month high of 0.8162 to a 2-week low of 0.7860 scored yesterday.
The latest string of US data had little impact on the US dollar, leaving AUD/USD confined to its recent range. The pair fell to a daily low of 0.7865, but found buyers ahead of the 100-day SMA, which has been acting as dynamic support. At time of writing, AUD/USD is trading at 0.7883, now a few pips above its opening price.
The Australian dollar is taking a breather following a 5-day losing streak, which sent the pair from a 4-month high of 0.8162 to a 2-week low of 0.7860 scored yesterday.