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22 Apr 2015
AUD/USD retreats from above 0.7800
FXStreet (Córdoba) - AUD/USD backed away from daily highs above 0.7800 at the beginning of the American session as the US dollar takes back some losses across the board.
The Australian dollar rose to a 2-day high of 0.7806, underpinned by higher than expected domestic CPI data, but failed to hold above the 0.78 mark and gave up ground, dragged down by gold slump. However, the pullback has found support at the 0.7745 zone and AUD/USD was last trading at 0.7765, 0.73% above its opening price.
AUD/USD levels to watch
As for technical levels, AUD/USD could find immediate supports at 0.7745 (intraday low), 0.7705 (daily low) and 0.7687 (21-day SMA). On the other hand, resistances are seen at 0.7806 (daily high), 0.7827 (Apr 20 high) and 0.7841 (Apr 17 high).
The Australian dollar rose to a 2-day high of 0.7806, underpinned by higher than expected domestic CPI data, but failed to hold above the 0.78 mark and gave up ground, dragged down by gold slump. However, the pullback has found support at the 0.7745 zone and AUD/USD was last trading at 0.7765, 0.73% above its opening price.
AUD/USD levels to watch
As for technical levels, AUD/USD could find immediate supports at 0.7745 (intraday low), 0.7705 (daily low) and 0.7687 (21-day SMA). On the other hand, resistances are seen at 0.7806 (daily high), 0.7827 (Apr 20 high) and 0.7841 (Apr 17 high).