AUD/USD edges down as commodity currencies underperform

FXStreet (Córdoba) – AUD/USD inched a tad lower on Friday and trades near its monthly lows scored the previous day, on track to post its sixth daily loss in a row.

The greenback ignored US GDP downward revision from +0.2% to -0.7% in the first quarter, and continued to move higher versus commodity currencies in a relatively quiet day mostly driven by cautious sentiment.

AUD/USD is currently trading at the 0.7635 area, down 0.12% on the day, having scored a low of 0.7629 in recent dealings. On the downside, immediate support stands at 0.7617, 6-week low struck yesterday, followed by the 0.76 mark.

On the upside, immediate resistances are seen at 0.7629 (daily high), 0.7700 (psychological level) and 0.7760 (May 28 high).

The NZD and the CAD are also among the worst performers, weighed down by soft domestic data.

AUD/USD inched a tad lower on Friday and trades near its monthly lows scored the previous day, on track to post its sixth daily loss in a row.

(Market News Provided by FXstreet)