AUD/USD touches session low at 0.7415. US Dollar Index loses traction ahead of US data. Flight-to-safety weighs on risk-sensitive assets. After making a strong recovery on Friday and ending the week flat, the AUD/USD pair started the new week under a modest selling pressure and fell to a fresh daily low at 0.7412. However, a broad-based selling pressure witnessed on the greenback helped the pair retrace some of its losses. As of writing, the pair was trading at 0.7430, still down 0.2% on the day. The US Dollar Index, which stayed stuck in a tight range above the 94 mark during the first half of the day, slipped to a new 11-day low in the last hour at 93.95 and was last seen at 93.98, where it was down 0.23% on the day. Although there were no clear catalysts that may have triggered a USD sell-off, a sharp upsurge seen in the EUR/USD pair looks to be the primary reason behind the greenback weakness. Later in the session, Chicago Fed National Activity Index, new home sales, and Dallas Fed Manufacturing Index data will be released from the United States. On the other hand, major European indices are recording heavy losses, reflecting a risk-off mood in the markets, which could make it difficult for the risk-sensitive AUD to continue to gather strength. At the moment, both Germany’s DAX and the UK’s FTSE 100 indexes are down 1.5%. Technical levels to consider On the upside, the pair could face the first technical resistance at 0.7500/10 (psychological level/20-DMA) ahead of 0.7550 (May 13 high) and 0.7625 (100-DMA). Support could be seen at 0.7415 (daily low) ahead of 0.7380 (Jun. 22 low) and 0.7340 (Jun. 21 low). 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 NOK appreciation coming? – Nordea Markets FX Street 5 years AUD/USD touches session low at 0.7415. US Dollar Index loses traction ahead of US data. Flight-to-safety weighs on risk-sensitive assets. After making a strong recovery on Friday and ending the week flat, the AUD/USD pair started the new week under a modest selling pressure and fell to a fresh daily low at 0.7412. However, a broad-based selling pressure witnessed on the greenback helped the pair retrace some of its losses. As of writing, the pair was trading at 0.7430, still down 0.2% on the day. The US Dollar Index, which stayed stuck in a tight range above the 94 mark… 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.