9 Mar 2015
AUD/USD bears looking for a break of 0.7680/40
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7712 with a high of 0.7742 and a low of 0.7682.
AUD/USD has been recovering from the lows and back onto the 0.77 handle, meeting resistance at the 0.7740 resistance and old support back on the 24th Feb and numerous occasions back along the charts. We are in a strong US dollar environment and further downside cannot be ruled out especially with the on going dovish sentiment around the RBA.
Technically, A break of 0.7680/40 needs to give way and then below Feb lows at 0.7625, there is very little support apart from the base of the 2 year down channel at 0.7528 then 0.7335, 50% retracement of the move up from 2001.
AUD/USD has been recovering from the lows and back onto the 0.77 handle, meeting resistance at the 0.7740 resistance and old support back on the 24th Feb and numerous occasions back along the charts. We are in a strong US dollar environment and further downside cannot be ruled out especially with the on going dovish sentiment around the RBA.
Technically, A break of 0.7680/40 needs to give way and then below Feb lows at 0.7625, there is very little support apart from the base of the 2 year down channel at 0.7528 then 0.7335, 50% retracement of the move up from 2001.