FX News

AUD/USD Transfer

The Australian Dollar (AUD), US Dollar (USD) slipped below the key moving average level at 0.6550 overnight falling to 0.6530 extending late last week’s drop. Aussie manufacturing numbers last week could still be impacting the currency while “risk” sentiment has certainly turned lower. Of note the cross has rebounded off the Fib 50% retracement level at 0.6580 also suggesting we could see more downside towards 0.6500. Fed member Waller has said: not lowering rates in the coming months and waiting too long- the Fed risks pushing the US economy into a recession.

Current Level: 0.6539
Support: 0.6520
Resistance: 0.6580
Last week’s range: 0.6520- 0.6594

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