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27 Mar 2015
AUD/USD keeps losses below 0.7800
FXStreet (Mumbai) - AUD/USD remains under pressure in the European session falling ore prices and a broadly stronger US dollar continue to weigh on the Australian dollar.
AUD/USD falls further on stronger USD.
Currently, the AUD/USD trades lower by -0.45% at 0.7794 levels, having posted fresh session lows at 0.7776 couple of hours ago. The Aussie dived deeper in to red mainly driven by sharp gains seen in the US dollar against its major competitors ahead of crucial US growth numbers.
Moreover, weaker Chinese industrial profits data and plunging iron-ore prices continue to weigh on AUD/USD. China Industrial Profits (YoY) for the month of February came at -4.2% vs -8.0% previous, while iron ore was down nearly -4% (Dailian Sept contract).
Also, losses in the Aussie were exacerbated on a very heavy NZD/USD and also on falling crude, gold and copper prices.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7834 levels, above which gains could be extended to 0.7900 levels. On the flip side, support is seen at 0.7760 levels from here it to 0.7700 levels.
AUD/USD falls further on stronger USD.
Currently, the AUD/USD trades lower by -0.45% at 0.7794 levels, having posted fresh session lows at 0.7776 couple of hours ago. The Aussie dived deeper in to red mainly driven by sharp gains seen in the US dollar against its major competitors ahead of crucial US growth numbers.
Moreover, weaker Chinese industrial profits data and plunging iron-ore prices continue to weigh on AUD/USD. China Industrial Profits (YoY) for the month of February came at -4.2% vs -8.0% previous, while iron ore was down nearly -4% (Dailian Sept contract).
Also, losses in the Aussie were exacerbated on a very heavy NZD/USD and also on falling crude, gold and copper prices.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7834 levels, above which gains could be extended to 0.7900 levels. On the flip side, support is seen at 0.7760 levels from here it to 0.7700 levels.