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AUD/USD posts fresh 7-month lows

FXStreet (Córdoba) - AUD/USD fell to its lowest level since early February during the American session, as Wall Street indexes plummet.

AUD/USD broke decisively below the 0.8800 mark and extended losses to 0.8773 in recent dealings. The Aussie is suffering as “collateral damage” after the Reserve Bank of New Zealand said the NZD was badly overvalued and with the greenback underpinned by diverging rate outlooks.

AUD/USD technical perspective

“In the 4 hours chart momentum maintains a strong bearish slope supporting the shorter term view, and with next support now around 0.8770”, said Valeria Bednarik, chief analyst at FXStreet.

AUD/USD levels to watch

In terms of technical levels, AUD/USD could find immediate supports at 0.8773 (intraday low), 0.8730 (Feb 4 low) and 0.8700 (psychological level). On the flip side, resistances are seen at 0.8835 (intraday level) and 0.8885 (Sept 25 high) and 0.8900 (psychological level).

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