Forex Marketz Daily Forex News – Fully Markets Update
AUD/USD back above 0.7400 amid USD weakness
FXStreet (Córdoba) – AUD/USD rose more than half a cent and regained the 0.7400 level on Thursday as commodity currencies caught a bid tone against a weaker greenback, which was weighed by lower Treasury yields.
The Australian dollar managed to recover ground and move into positive territory for the week, but overall it remains vulnerable, too close to 6-year lows struck a few days ago. AUD/USD stretched to a daily peak of 0.7417 and it was last trading at 0.7412, up 0.50% on the day.
AUD/USD technical levels
In terms of technical levels, AUD/USD could find next resistances at 0.7449 (Jul 21 high), 0.7483 (20-day SMA) and 0.7500 (psychological level). On the flip side, supports are seen at 0.7355 (Jul 23 low), 0.7340 (Jul 21 low) and 0.7327 (6-year low Jul 20).
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AUD/USD back above 0.7400 amid USD weakness
Source: FXStreet
