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26 Feb 2015
AUD/USD collapse continues; now below 0.7800, watch out for 0.7740
FXStreet (San Francisco) - After testing it several times in the American session, the AUD/USD finally broke the 0.7800 support and it's now trading at 2-day lows around 0.7785.
Currently, AUD/USD is trading at 0.7789, down 1.25% on the day, having posted a daily high at 0.7914 and low at 0.7788. AUD/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
AUD/USD sentiment
The US Dollar is trading on the offensive as the market digested the US core CPI as a hint that prices will be closer to Fed's target sooner and the central bank will have to hike rates.
The AUD/USD is currently testing the 0.7780 support. If the pair manages to break below, it will find next supports at 0.7740 and 0.7720. To the upside, resistances are at 0.7800, 0.7820, 0.7850 and 0.7900.
Currently, AUD/USD is trading at 0.7789, down 1.25% on the day, having posted a daily high at 0.7914 and low at 0.7788. AUD/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
AUD/USD sentiment
The US Dollar is trading on the offensive as the market digested the US core CPI as a hint that prices will be closer to Fed's target sooner and the central bank will have to hike rates.
The AUD/USD is currently testing the 0.7780 support. If the pair manages to break below, it will find next supports at 0.7740 and 0.7720. To the upside, resistances are at 0.7800, 0.7820, 0.7850 and 0.7900.