AUD/USD back below 0.7200

Ani Salama FXStreet

AUD/USD slid back below the 0.72 mark at the beginning of the New York session as the dollar strengthened slightly despite below expectations US GDP revision.

AUD/USD dropped below the 100-hour SMA and hit fresh daily low of 0.7195 before finding support. At time of writing, the pair is trading at 0.7197, recording a 0.39% loss on the day and on track to post its fifth weekly decline in a row.

AUD/USD levels to consider

In terms of technical levels, next supports are seen at 0.7162 (May 26 low), 0.7144 (May 24 low) and 0.7108 (Mar 1 low). On the flip side, resistances could be found at 0.7253 (200-day SMA), 0.7330 (May 18 high) ahead of 0.7344 (100-day SMA).

Author

Ani Salama

FXStreet

Ani Salama is an Economist specialized in financial markets and statistics analysis. In 2010, she joined FXstreet where she now contributes with the news section.

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