Search ForexCrunch
  • The AUD/USD currency pair is challenging the 0.6753 support.
  • Downside targets can be seen near 0.6725 and 0.6676 levels. 

AUD/USD daily chart

AUD/USD dropped down sharply as it was anticipated and reached the 0.6790 and 0.6767 targets. As the market remains under selling pressure below the main daily simple moving averages (SMAs) the spot is likely to decline further on a break below the 0.6753 support. A bearish extension can see 0.6725 and 0.6676 levels become next on the bears’radar. Resistances are seen near 0.6775, 0.6796 and 0.6834 levels, according to the Technical Confluences Indicator.