AUD/USD: bears have taken over

FXStreet – The selling interest around the Australian Dollar remains strong. In consequence, slipped the currency pair AUD/USD on 0,7380 and marked a new 3-week Low. Blame, among other things, the good Figures from the US are likely to have been the private sector.

In the United States, the employment of the private sector in may increased noticeably. In the monthly comparison, the number of employment was specified with 253.000. Economists had expected a much weaker increase of 185,000. This, in conjunction with the optimistic statements of some representatives of the American Central Bank, the US yields had to rise and weighed on the high-interest rate currencies such as the Aussie.

However, the number of initial claims for benefits in the context of the US unemployment insurance rose by 13,000, to 248.000. The disappointment, however, was only of short duration, because of the recent downward impulse of the Australian dollar was mainly driven by the weak Chinese purchasing managers ‘ index.

A moderate recovery in copper prices could offer the Australian Dollar, however, is a support, but a significant impulse is not likely to assume.

In brief, the much acclaimed US-purchasing managers index the Institute of Supply Management will be released, which could serve as a springboard for a small reaction of the bulls.

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Technical Brands

A break of the support at 0,7380 could miss the Australian Dollar of the next broadside. In 0,7345/40 and 0,7300/0,7295 the next chart technical support brands. The next resistance levels, which can initiate a new downward movement, at 0.7400, 0,7420 and 0,7460.

** FXStreet News Editorial, FXStreet**

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