AUD/USD remains capped by 0.6950

By FXStreet FXStreet (Córdoba) – AUD/USD is going through a consolidation phase, as most pairs in the FX market, in the absence of macroeconomic events to drive trading.

AUD/USD however remains capped by the 0.6950 area and continues to trade close to a 6-year low of 0.6908 struck on Friday following the release of US nonfarm payrolls, and with Chinese turmoil still weighing on commodity currencies. At time of writing, AUD/USD is trading at 0.6938, little changed on the day.

AUD/USD technical levels

In terms of technical levels, AUD/USD could face immediate supports at 0.6908 (6-year low Sep 4), 0.6855 (Apt 1 2009 low) and 0.6800 (psychological level). On the flip side, resistances are seen at 0.6949 (Sep 7 high), 0.7000 (psychological level) and 0.7020 (Sep 4 high).
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Source:: FX Street