Aussie trimmed losses versus US dollar as market sentiment stabilized. AUD/USD down for thefourth day in-a-row, about to post the lowest close since June 2017. The AUD/USD pair rebounded modestly during the American session, rising around 40 pips from the lows. Earlier it fell to a 1-year low at 0.7346, affected by the escalating trade war between the US and China. Equity prices around the world dropped and weighed on the Aussie that managed to stabilize on US hours amid an improvement in market sentiment. AUD/USD bounced and climbed to 0.7385. During the last hours remained around 0.7375/85, consolidating losses and headed toward the lowest close since June 2017. Regarding data Australia will only see the release of the Westpac Leading Index for May, while in the US, more housing data (Existing home sales) is due. The focus will continue on the “trade war” and its impact on risk sentiment. AUD/USD Technical outlook “The pair is at risk of falling further, but given the extreme oversold conditions after falling sharply for five consecutive days, an upward corrective movement can’t be ruled out. In the 4 hours chart, however, the 20 SMA heads south almost vertically far above the current level, at around 0.7430, while technical indicators have bounced from their lows, although the RSI remains within oversold readings at 25″, said Valeria Bednarik, Chief Analyst at FXStreet. On the upside, short-term resistance levels might be located at 0.7395, 0.7430 and 0.7480. On the flip side, support could be seen 0.7345, 0.7310 and 0.7275. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Iran OilMin: Don’t think there will be agreement at this OPEC meeting FX Street 5 years Aussie trimmed losses versus US dollar as market sentiment stabilized. AUD/USD down for thefourth day in-a-row, about to post the lowest close since June 2017. The AUD/USD pair rebounded modestly during the American session, rising around 40 pips from the lows. Earlier it fell to a 1-year low at 0.7346, affected by the escalating trade war between the US and China. Equity prices around the world dropped and weighed on the Aussie that managed to stabilize on US hours amid an improvement in market sentiment. AUD/USD bounced and climbed to 0.7385. During the last hours remained around 0.7375/85, consolidating losses… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.