The Australian Dollar (AUD) fell to 0.6695 off the weekly open against the US Dollar (USD) continuing last week’s declines to an 8-week low. Long term support on the chart is 0.6650, this should hold, this morning recovering to 0.6740 with punters also leaning off the 100-day moving average at 0.6720. This week the RBA will be concerned over rising inflation tomorrow. Expect a healthy push higher if the figure comes in above 7.8%
Current Level: 0.6736
Resistance: 0.6860
Support: 0.6600
Last Weeks Range: 0.6718-0.6918