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Forex: AUD/USD tumbles below 1.0300, fresh 3-month lows

Following a consolidation phase, the Australian dollar came under pressure and extended losses into a third day versus a broad stronger greenback.

Also weighed by the risk-off mood and the decline in stocks, AUD/USD broke below the 1.0290 support area and slid toward a low of 1.0272 in recent dealings, last seen Oct 24. At time of writing, AUD/USD is trading around 1.0280, recording a 0.4% daily loss.

In terms of technical levels, on the downside next support level is seen at 1.0260 (daily low Oct 24), followed by 1.0230 (daily low Oct 23) and 1.0200 (psychological level). On the upside, resistances could now be found at 1.0345 (intraday high), 1.0380 (200-day SMA) and 1.0400(psychological level).

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