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15 Apr 2015
AUD/USD deep in red below 0.76, China growth woes weigh
FXStreet (Mumbai) - AUD/USD remains the weakest among G10 currencies, remaining deep in to losses as traders continue to digest a batch of disappointing data from China.
AUD/USD remains below 0.76
Currently, the AUD/USD trades lower by -0.44% at 0.7594, in a bid to test session lows at 0.7580.
AUD/USD remains pressured dragged by China's weak Q1 GDP, showing the slowest pace of growth in six years. Moreover, poor Chinese retail sales and industrial production data further added to the weakness in the Aussie as China is Australia’s top trading partner.
Moreover, weaker gold prices also continue to drag the resource-linked Aussie lower. Meanwhile, Australian jobs figures due on Thursday are now the main focus for markets to set a clear tone for the Aussie.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7633 (Today’s High) levels, above which gains could be extended to 0.7650 levels. On the flip side, support is seen at 0.7550 (April 13 Low) levels from here it to 0.7530 (April 2 Low) levels.
AUD/USD remains below 0.76
Currently, the AUD/USD trades lower by -0.44% at 0.7594, in a bid to test session lows at 0.7580.
AUD/USD remains pressured dragged by China's weak Q1 GDP, showing the slowest pace of growth in six years. Moreover, poor Chinese retail sales and industrial production data further added to the weakness in the Aussie as China is Australia’s top trading partner.
Moreover, weaker gold prices also continue to drag the resource-linked Aussie lower. Meanwhile, Australian jobs figures due on Thursday are now the main focus for markets to set a clear tone for the Aussie.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7633 (Today’s High) levels, above which gains could be extended to 0.7650 levels. On the flip side, support is seen at 0.7550 (April 13 Low) levels from here it to 0.7530 (April 2 Low) levels.