- Aussie ignores stronger commodities, AUD/USD extends grind lower.
- The pair is holding above major support at 0.73 levels, break below to see drag lower.
- Focus remains on remains Australia construction data, US durable goods data and FOMC minutes this week for further impetus.
- Major support levels - 0.73 (Trendline and psycholigical level), 0.7285 (June 16 low), 0.7280 (78.6% Fib)
- Major resistance levels - 0.7387 (61.8% Fib), 0.74, 0.7418 (5-DMA)
- Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-slips-below-074-handle-hits-fresh-5-month-low-of-07387-good-to-sell-rallies-409790) is progressing. TP1 hit.
Recommendation: Lower trailing stops to 0.74, hold for 0.73/ 0.7280/ 0.7250
FxWirePro's Hourly AUD Spot Index was at -46.0144 (Neutral), while Hourly USD Spot Index was at 73.0645 (Neutral) at 0420 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
