AUD/USD falls to a low of 0.7623 on the day

Invest in yourself. See our forex education hub.

European equities may be soaring but the overall risk mood is less enthusiastic with US futures marked lower to start the session. S&P 500, Nasdaq, and Dow futures are all down 0.3% to the lows for the day and that is underpinning the dollar slightly.

AUD/USD has slipped by 0.3% to a low of 0.7623 after failing to push past the 30 March high of 0.7664 with near-term resistance seen around the region of 0.7655-64.

That puts some focus back on the key hourly moving averages @ 0.7613-15. Bear in mind that the 100-day moving average is seen @ 0.7635 with price action trading in and around that over the past week or so.

But going back to the near-term chart above, a break back below the key hourly moving averages and 0.7600 will start to put the focus on the head-and-shoulders neckline in AUD/USD once again. That level rests around the region of 0.7532-64.

Source link