FxWirePro: AUD/USD bounces off lows, but more downside expected
The AUD/USD pair declined on Monday as the greenback rose on expectations that Federal Reserve will raise U.S. interest rates soon. Comments from Federal Reserve Chair Janet Yellen and Vice Chair Stanley Fischer on Frida…
The AUD/USD pair declined on Monday as the greenback rose on expectations that Federal Reserve will raise U.S. interest rates soon.
Comments from Federal Reserve Chair Janet Yellen and Vice Chair Stanley Fischer on Friday on raising interest rate, spurred selling interest in Australian dollar.
Currently the currency pair is trading around 0.7568 levels, it is set to decline further towards 0.7500 later towards 0.7450 levels in the short term.
Strong support can be seen at 0.7548, a break below this level will expose the pair towards next support level located at 0.7528.
Major resistance can be seen at 0.7627, a break above this level will open the gates towards 0.7692 levels.
