AUD Falls To 2 Day Low against USD

The Australian dollar had stooped from its earlier level against the US dollar its counterpart in Tuesdays trading, and this was considered to be the 2nd day low largely because of the commodity prices that fell and that was even ahead of the key consumer sentiment data that the US had released.

The trading pair of the AUD/USD had reached a level of 0.9232 during the early trading session in the European trade, this was the lowest it had reached since Friday, the pair then managed to consolidate itself around 0.9239 where it had shred 0.32%. The trading pair was to find some kind of short term support at 0.9157 which was the low on last Monday and a resistance level of 0.9382 which was highest since April 12.

The AUD also saw a drop against the greenback although it upbeat on the Australian producer price inflation had been released. During the earlier parts of the trading day the official data had shown that the price of the service and goods that were sold by Australian producers had increased at a quicker level than what it was at the first quarter of the trade.

The AUD also fallen as compared to the yen though during Tuesdays trading and the trading pair of the AUD/JPY went down to about 0.57% to come to about 86.6.