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11 Mar 2015
AUD/USD breaks below 0.76, lowest since May 2009
FXStreet (Mumbai) - AUD/USD extended losses and fell to fresh six year in the mid-Asian session, as the US dollar continues to dominate across the board on increased probability of a mid-year rate hike.
AUD/USD drops from 0.7615 levels
Currently, the AUD/USD trades lower by -0.31% near fresh six year lows reached at 0.7593 levels. The Aussie resumes its downtrend as the US dollar hit fresh twelve year highs versus its major peers as markets await the upcoming Federal Reserve (Fed) meeting later in March for a hint at a June rate hike.
Moreover, downbeat Aus consumer sentiment data which showed that the Westpac-Melbourne Institute Consumer Sentiment index fell 1.2% to 99.7 points in March from 100.7 in February further exacerbated the pain in the Aussie.
In the day ahead, US dollar is likely to remain the main driver for the pair, providing fresh direction on the Aussie.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7645 levels, above which gains could be extended to 0.7685 levels. On the flip side, support is seen at 0.7580 (2009) levels from here it to 0.7550 (2009) levels.
AUD/USD drops from 0.7615 levels
Currently, the AUD/USD trades lower by -0.31% near fresh six year lows reached at 0.7593 levels. The Aussie resumes its downtrend as the US dollar hit fresh twelve year highs versus its major peers as markets await the upcoming Federal Reserve (Fed) meeting later in March for a hint at a June rate hike.
Moreover, downbeat Aus consumer sentiment data which showed that the Westpac-Melbourne Institute Consumer Sentiment index fell 1.2% to 99.7 points in March from 100.7 in February further exacerbated the pain in the Aussie.
In the day ahead, US dollar is likely to remain the main driver for the pair, providing fresh direction on the Aussie.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7645 levels, above which gains could be extended to 0.7685 levels. On the flip side, support is seen at 0.7580 (2009) levels from here it to 0.7550 (2009) levels.