FxWirePro: AUD/USD hits 1-week low, bias back to downside
AUD/USD declined sharply on Thursday as Australian dollar was weighed down by decline in commodities prices and the increasing concerns over a global economic slowdown. With a no economic data release scheduled in the co…
AUD/USD declined sharply on Thursday as Australian dollar was weighed down by decline in commodities prices and the increasing concerns over a global economic slowdown.
With a no economic data release scheduled in the country for this last part of the week, the pair set to continue its bearish trend in the short term.
To the upside, the strong resistance can be seen at 0.7570, a break above this level would take the pair towards next resistance level at 0.7638.
To the downside immediate support can be seen at 0.7480, a break below this level will open the door towards next level at 0.7423.
