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6 Mar 2013
Forex: AUD/USD erases daily gains
The Australian dollar came under pressure during the New York session and surrendered all gains versus the dollar as risk appetite receded.
After failing to break above the 1.0300 level, AUD/USD turned lower and weighed by broad USD strength, the pair recently fell toward a fresh daily low of 1.0237 before the 200-hour SMA offered support.
At time of writing, AUD/USD is trading around 1.0240, 0.1% below its opening price. As for technical levels, next supports could be found at 1.0210 and 1.0185, while resistances are seen at 1.0300, 1.0315 and 1.0340.
After failing to break above the 1.0300 level, AUD/USD turned lower and weighed by broad USD strength, the pair recently fell toward a fresh daily low of 1.0237 before the 200-hour SMA offered support.
At time of writing, AUD/USD is trading around 1.0240, 0.1% below its opening price. As for technical levels, next supports could be found at 1.0210 and 1.0185, while resistances are seen at 1.0300, 1.0315 and 1.0340.