Yesterday’s FOMC has led to US Dollar strength. The AUD/USD dropped towards minor support at 0.7585/65 but the aussie has fought back. Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, highlights the new level to watch.
200-day moving average is seen at 0.7552
“AUD/USD tumbled close to the 0.7585/65 minor support area, made up of the March 25 and April 13 lows. Further down meanders the 200-day moving average at 0.7552 and lies the 0.7533 April low.”
“Initial resistance above the 0.7646 early June low lies at the 0.7675/91 April 22 to May lows as well as along the 55-day moving average at 0.7727.”
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