AUD/USD – Trying to Stay in Touch of 0.75 Level

AUD/USD – Trying to Stay in Touch of 0.75 Level

AUD / USD - Wednesday, July 8, 2015

The Australian dollar has not had his best week down sharply above the key 0.77 level to a new six-year low below 0.74 over the past 24 hours. The AUD / USD currently trades around the 0.7450 and try to stay within range of the level 0.75. Some time last week the AUD / USD tested the key support level at 0.76 and enjoyed a solid support before it failed. Throughout last week, the Australian dollar began to feel some selling pressure from the level of 0.77, and his eyes were firmly focused on the long term support level at 0.76. There are a few weeks, the AUD / USD fell sharply lower below 0.77 but found strong support for long-term support level at 0.76. This level has provided strong support throughout most of this year, so it is quite significant that it was strongly broken.

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A few weeks ago, he made a greater leap of below 0.77 until the last three weeks, but he ran straight into the key 0.7850 resistance level, which played this role more time this year. All this time, he also spent most of his time fairly stable operations around the 0.7750 level while enjoying a strong support 0.77. In the last month, the 0.7850 resistance level has played a major role and continues to exert downward pressure on selling the AUD / USD. During this same period, it benefited from rock solid support from the level of support in the long term to 0.76 that allowed him to bounce back strongly to more than 0.78 to more than one occasion.

Throughout the second half of May, the Australian dollar fall sharply to a four months above 0.8150 to the level of key support at 0.76. This level was a significant level for a couple of months and has supported the Australian dollar on multiple occasions. This recent price action has been a significant reversal, because there is not so long, the AUD / USD has been in a long-term trend solid medium to having broken through the 0.7850 key level and reached four months of high above 0.8150. For most of this year, the Australian dollar has traded in a wide trading range between support at 0.76 and resistance around 0.7850. Earlier this year in February this range was narrower with the highest level of support 0.77. Throughout this period he has had reasonable swings back and forth between the two key levels with very few excursions beyond the levels.

(daily chart / 4 hourly chart below)

AUD / USD on July 7 at 23:40 GMT 0.7445 H: 0, 7501 L: 0.7398

AUD / USD technical

S3	S2	S1	R1	R2	R3
0.7400	-	-	0.7850	0.8150	-

During the first hours of the Asian session on Wednesday, the dollar Australia is trading in a narrow range around 0.7450 right after recently falling sharply to a low of six years below 0.74. Current range :. right trading around 0.7450

Other levels in both directions

• The following :. 0.7400

• Above :. 0.7850 and 0.8150

Open Ratios position OANDA

(shows the ratio of long short positions vs held AUD / USD between all OANDA clients. the percentage left (blue) shows long positions ;. percentage right (orange) shows short positions)

the long position report AUD / USD fell below 60 % as the AUD / USD fell to a new six-year low below 0.74. The trader sentiment is in favor of long positions.

Economic Releases

• 11:01 p.m. (Tue) UK RICS House Price Balance (June)
• 11:50 p.m. (Tue) JP Money Supply M2 (June)
• 11:50 p.m. JP Key machinery orders (May)
• 24:30 CA construction permits (May)
• JP Economy Watchers Survey (June)

* All times are GMT release of

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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