US Dollar Index looks to end the day in the red near mid-94s. AUD/USD pares daily losses, finds resistance ahead of 0.74. The AUD/USD pair fell to a daily low of 0.7345 in the early European session and staged a robust recovery in the second half of the day. After touching a session high at 0.7393, the pair went into a consolidation phase and was last seen trading at 0.7385, where it was up 0.22% on the day. The greenback’s market valuation seems to be the primary driver of the pair’s price action on Thursday. The US Dollar Index, which advanced to a fresh 2018 high at 95.22, lost its traction amid a weaker demand for risky assets in the NA session. Wall Street’s negative opening to the day and its steep fall following the U.S. Supreme Court’s decision to allow states tax online retailers, weighed on the T-bond yields and the buck. Toward the end of the session, the index was down 0.33% near 94.50. On the other hand, the commodity-sensitive AUD seems to be receiving an additional boost from the rising crude oil prices. Ahead of tomorrow’s critical OPEC summit in Vienna, the barrel of West Texas Intermediate regained the $66 mark. There won’t be any macroeconomic data releases from Australia on Friday and the pair is likely to stay in its recent range in the short-term. Technical levels to consider The initial support for the pair could be seen at 0.7345 (daily low) ahead of 0.7285 (Jan. 6, 2017, low) and 0.7200 (psychological level). On the upside, resistances are located at 0.7425 (Jun. 19 high), 0.7500 (psychological level) and 0.7540 (50-DMA). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next OPEC Delegate: OPEC, non-OPEC still discussing 4 scenarios for increasing output FX Street 5 years US Dollar Index looks to end the day in the red near mid-94s. AUD/USD pares daily losses, finds resistance ahead of 0.74. The AUD/USD pair fell to a daily low of 0.7345 in the early European session and staged a robust recovery in the second half of the day. After touching a session high at 0.7393, the pair went into a consolidation phase and was last seen trading at 0.7385, where it was up 0.22% on the day. The greenback's market valuation seems to be the primary driver of the pair's price action on Thursday. The US Dollar Index, which… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.