Home » Charts » 04/30/15: AUDUSD Reverses 3-Month Highs as USD Remains Weak

04/30/15: AUDUSD Reverses 3-Month Highs as USD Remains Weak

The AUDUSD declined sharply on Thursday, reversing the previous day’s three-month high as demand for the US dollar remained subdued heading into the weekend.

The AUDUSD plunged more than 1 percent on Thursday, bottoming out at 0.7864. The pair was trading at 0.7902 ahead of Friday’s Sydney session. The AUDUSD is back at familiar levels and faces near-term support at 0.7867, Thursday’s low. A break below that level would lead to a re-test of 0.7800. On the upside, initial resistance is likely found at 0.7918.

 

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Despite the USD rally, demand for the greenback remains limited, as the US dollar index fell more than 0.4 percent to 94.78, a fresh three-month low.

 

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