13 Jul 2015
AUD/USD drops to 0.7412
FXStreet (Mumbai) - The AUD/USD pair extended weakness in the early NY session to hit a fresh session low of 0.7412 as the Greek deal brought back interest rate divergence under the spotlight.
USD strengthens after Greek deal
The US dollar strengthened against most major currencies except the British Pound as the Greek deal pushed the US Fed one step closer to the much anticipated lift-off. The AUD/USD pair, thus, erased minor gains seen earlier today to hit a session low of 0.7412.
The losses in the Aussie are somewhat capped due to the rise in the Shanghai composite index for the third consecutive day.
AUD/USD Technical Levels
The pair currently trades at 0.7415, with immediate support seen at 0.74, under which the spot could extend the drop to 0.7368 (July 8 low). On the flip side, a break above the immediate resistance at 0.75 could see the spot re-test 0.7595 (July 1 low).
USD strengthens after Greek deal
The US dollar strengthened against most major currencies except the British Pound as the Greek deal pushed the US Fed one step closer to the much anticipated lift-off. The AUD/USD pair, thus, erased minor gains seen earlier today to hit a session low of 0.7412.
The losses in the Aussie are somewhat capped due to the rise in the Shanghai composite index for the third consecutive day.
AUD/USD Technical Levels
The pair currently trades at 0.7415, with immediate support seen at 0.74, under which the spot could extend the drop to 0.7368 (July 8 low). On the flip side, a break above the immediate resistance at 0.75 could see the spot re-test 0.7595 (July 1 low).