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25 Feb 2014
AUD/USD erases daily losses
FXStreet (Córdoba) - The AUD/USD managed to erase intraday losses during the European trade and rose back to its opening levels as markets struggle for direction.
The AUD/USD retreated from a weekly high of 0.9048 scored during the Asian session but the setback was contained ahead of the 0.9000 psychological level. At time of writing, the AUD/USD is trading around 0.9030, virtually unchanged since opening as investors await next round of US data for further clues on US economic recovery.
AUD/USD levels to watch
In terms of technical levels, the AUD/USD could find immediate resistances at 0.9048 (Feb 24 high) and 0.9080 (Feb 18 high) ahead of 0.9100 (psychological level). On the downside, supports are now seen at 0.9000 (psychological level), 0.8945 (20-day SMA) and 0.8937 (Feb 24 low).
The AUD/USD retreated from a weekly high of 0.9048 scored during the Asian session but the setback was contained ahead of the 0.9000 psychological level. At time of writing, the AUD/USD is trading around 0.9030, virtually unchanged since opening as investors await next round of US data for further clues on US economic recovery.
AUD/USD levels to watch
In terms of technical levels, the AUD/USD could find immediate resistances at 0.9048 (Feb 24 high) and 0.9080 (Feb 18 high) ahead of 0.9100 (psychological level). On the downside, supports are now seen at 0.9000 (psychological level), 0.8945 (20-day SMA) and 0.8937 (Feb 24 low).