FxWirePro: AUD/USD bounces off lows, but more downside expected
AUD/USD rebounded strongly on Monday as weak US factory data weighted on green back and strengthened Australian dollar. Currently the pair is making an attempt to test resistance level at 0.7662. Further upside is expect…
AUD/USD rebounded strongly on Monday as weak US factory data weighted on green back and strengthened Australian dollar.
Currently the pair is making an attempt to test resistance level at 0.7662.
Further upside is expected to be limited as the pair finds strong resistance at 0.7704 which should limit upside and bring a decline towards lower levels.
To the upside, the strong resistance can be seen at 0.7704 a break above this level would take the pair towards next resistance level at 0.7653.
To the downside immediate support can be seen at 0.7623, a break below this level will open the door towards next level at 0.7570.
