AUDUSD Under pressure
The Australian dollar continues to slide against the US dollar, following yesterday’s announcement from the Reserve Bank of Australia about more QE. The AUDUSD pair has now broken beneath its key 50-day moving average for the first time since November last year. Technical analysis highlights the 0.7550 and the 0.7480 levels as two upcoming bearish targets for AUDUSD sellers.
The AUDUSD pair is only bearish while trading below the 0.7660 level, key support is found at the 0.7600 and 0.7550 levels.
The AUDUSD pair is only bullish while trading above the 0.7660 level, key resistance is found at the 0.7700 and 0.7735 levels.