AUD/USD bulls capped at 0.7220 resistance

Currently, AUD/USD is trading at 0.7183, up 0.02% on the day, having posted a daily high at 0.7222 and low at 0.7164.

US: Pending home sales fall 2.5% in November

AUD/USD struggles to keep a footing above 0.7200 on bullish attempts within a broader bearish bias with 0.7220 resistance and offers capping the upside. The greenback remains dominant and has made some territory across the board despite a big miss in the homes sales data from the US today - (-2.5% vs +0.5% estimate and any prime movers elsewhere).

US stocks erase early gains and drift into negative territory

AUD/USD levels

Spot is presently trading at 0.7184, and next resistance can be seen at 0.7185 (Daily Classic PP), 0.7187 (Hourly 20 EMA), 0.7195 (Hourly 100 SMA), 0.7196 (Daily Classic R1) and 0.7199 (Yesterday's High). Support below can be found at 0.7182 (Daily Open), 0.7175 (Monthly Low), 0.7175 (Weekly Low), 0.7173 (Yesterday's Low) and 0.7170 (Daily Classic S1).